The City of Lexington contracts Professional Assessors to perform a general reassessment of real property every four years. The most current reassessment went into effect July 1, 2022. The next reassessment will go into effect July 1, 2026. The Professional Assessors will start the reassessment process in early Fall 2025. The current tax rate set by City Council is $.92 per $100. A Real Property and/or Personal Property Tax Exemption must be filed with the Commissioner of the Revenue's Office in order to have property that was not exempted before December 31, 2002, considered for exemption by Lexington City Council.

The City of Lexington offers tax exemption on rehabilitated commercial or industrial buildings that qualify. An Application for Tax Exemption for Rehabilitated Commercial or Industrial Buildings form must be submitted to the Commissioner of the Revenue to apply for this exemption.

You can view the City of Lexington’s real estate by accessing https://gis.vgsi.com/LEXINGTONVA.