Mortgage Interest Deduction in Virginia
State income tax rate
5.75%
Itemized deductions allowed
✅ Yes
State-Level Mortgage Interest Deduction
Virginia conforms to federal itemized deductions with a top rate of 5.75%. Mortgage interest is deductible on Virginia returns.
Combined Federal + Virginia Savings
If you paid $18,000 in mortgage interest last year and itemize on both returns, your combined tax savings would be approximately:
- Federal (22% bracket): $3,960
- Virginia (5.75% rate): $1,035
- Total estimated savings: $4,995
These are estimates based on a 22% federal bracket. Your actual savings depend on your specific tax situation.