Estimate the annual tax on rental-property income in Virginia.
Rental-property tax estimate in Virginia: rental income minus deductible expenses (mortgage interest, repairs, property tax) is taxed at your marginal rate. Depreciation is excluded here.
Tax
Tax = max(0, income − expenses − property tax) × rate
Estimate only.
Depreciation can offset a large share of rental income; it is not included here.
Rates are approximate reference values. Local rates, exemptions and rules can differ, so treat the output as a planning figure only.