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Thursday, November 21, 2024

Virginia collects $44 million in property tax revenue in Q2

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Craig M. Burns Tax Commissioner at Virginia Department of Taxation | Virginia Department of Taxation

Craig M. Burns Tax Commissioner at Virginia Department of Taxation | Virginia Department of Taxation

Virginia collected $44 million in property taxes during the second quarter of 2024, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

In addition to detailed tax revenue data from each state, the Quarterly Summary of State and Local Government Tax Revenue includes an estimate of state and local government tax revenue at a national level.

The Census Bureau cautions it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments. Also, not all states collect all types of taxes.

Overall, Virginia collected $11.4 billion in combined tax revenues in Q2.

Q2 Virginia Tax Collections

Type of TaxAmount (millions)
Income Taxes$7,005
License Taxes$315
Other Taxes$166
Property Taxes$44
Sales and Gross Receipts Taxes$3,808

Source: U.S. Census Bureau

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