Government budget and revenue in Virginia, United States: official figures
Virginia's state government took in $84.3 billion in fiscal year 2024, $9,559 per resident, 24th highest of 50 states per person (all states: $9,318 per person). The total includes taxes, federal funds, charges and pension-fund investment income.
How much does the Virginia state government spend?
The Virginia state government spent $82.0 billion in fiscal year 2024, or $9,302 per resident, 24th lowest of 50 states (all states: $9,444). Spending was 38.4% higher than in fiscal year 2019 ($59.3 billion), before adjusting for inflation.
Source: U.S. Census Bureau · saved copyHow much debt does the Virginia state government have?
Virginia state government debt outstanding was $33.7 billion at the end of fiscal year 2024, $3,825 per resident, 19th highest of 50 states (all states: $3,248). That equals 41% of one year's general revenue; in fiscal year 2019 the debt was $28.9 billion.
Source: U.S. Census Bureau · saved copyHow much federal funding does Virginia get?
The federal government provided $22.2 billion to the Virginia state government in fiscal year 2024, $2,517 per resident and 26.7% of its general revenue, 4th lowest share of 50 states (all states: 34.2%).
Source: U.S. Census Bureau · saved copyWhat are federal funds to Virginia spent on?
Public welfare programmes, mainly Medicaid, accounted for $14.6 billion or 66% of Virginia's federal funds in fiscal year 2024, and education for $3.4 billion (15%).
Source: U.S. Census Bureau · saved copyWhat does the Virginia state government spend its money on?
Direct state spending on public welfare was $2,685 per resident in fiscal year 2024, 22nd lowest of 50 states (all states: $3,000); higher education took $1,310 per resident and highways $610.
Source: U.S. Census Bureau · saved copyHow much does Virginia give to local governments and schools?
24.5% of Virginia's state general spending in fiscal year 2024 ($19.8 billion) was paid to other governments, mostly local governments and school districts, 25th highest share of 50 states (all states: 27.7%).
Source: U.S. Census Bureau · saved copyHow much tax does Virginia collect?
Virginia collected $40.3 billion in state taxes in fiscal year 2025, $4,533 per resident, 18th highest of 50 states (all states: $4,503). That was 7.1% more than in fiscal year 2024 ($37.6 billion); across all states collections rose 4.3%.
Source: U.S. Census Bureau · saved copyWhat taxes does Virginia rely on?
The individual income tax raised $19.0 billion (47.3% of state taxes, 4th highest share of 50 states) in fiscal year 2025. The general sales tax raised $7.6 billion (18.8%, 8th lowest share of 50 states). The largest single tax was the individual income tax (47.3%), followed by the general sales and gross receipts tax (18.8%).
Source: U.S. Census Bureau · saved copyDoes Virginia have corporate, property or severance taxes?
In fiscal year 2025, in Virginia, corporate net income tax raised $4.5 billion (11.1% of state taxes); state property tax raised $55.7 million; severance tax on oil, gas, coal and minerals raised $4.1 million (0.0% of state taxes).
Source: U.S. Census Bureau · saved copyHow much money does the Virginia state government hold in reserves?
The Virginia state government held $115.0 billion in cash and securities at the end of fiscal year 2024, $13,034 per resident, of which $111.7 billion was in insurance trust funds such as public employee pension systems.
Source: U.S. Census Bureau · saved copyHow Virginia compares with other states
State government revenue per person (2024)
Virginia ranks 24 of 50, highest first. All revenue of the state government, including insurance trust income, divided by 1 July population
| Rank | Region | State government revenue per person |
|---|---|---|
| 21 | Louisiana | $9,667 |
| 22 | Pennsylvania | $9,655 |
| 23 | Maryland | $9,628 |
| 24 | Virginia | $9,559 |
| 25 | Montana | $9,489 |
| 26 | Mississippi | $9,375 |
| 27 | Arkansas | $9,353 |
State government spending per person (2024)
Virginia ranks 27 of 50, highest first. Total expenditure of the state government divided by 1 July population
| Rank | Region | State government spending per person |
|---|---|---|
| 24 | Pennsylvania | $9,378 |
| 25 | Utah | $9,334 |
| 26 | Mississippi | $9,323 |
| 27 | Virginia | $9,302 |
| 28 | Iowa | $9,264 |
| 29 | Connecticut | $9,228 |
| 30 | Wisconsin | $9,034 |
State government debt per person (2024)
Virginia ranks 19 of 50, highest first. Debt outstanding at the end of the fiscal year divided by 1 July population
| Rank | Region | State government debt per person |
|---|---|---|
| 16 | Colorado | $3,936 |
| 17 | Washington | $3,862 |
| 18 | Wisconsin | $3,826 |
| 19 | Virginia | $3,825 |
| 20 | Maine | $3,765 |
| 21 | Pennsylvania | $3,730 |
| 22 | Delaware | $3,510 |
Federal funds received by the state government per person (2024)
Virginia ranks 43 of 50, highest first. Intergovernmental revenue from the federal government
| Rank | Region | Federal funds received by the state government per person |
|---|---|---|
| 40 | South Carolina | $2,729 |
| 41 | Wisconsin | $2,571 |
| 42 | Nevada | $2,564 |
| 43 | Virginia | $2,517 |
| 44 | Utah | $2,416 |
| 45 | Kansas | $2,410 |
| 46 | New Hampshire | $2,310 |
Federal funds as a share of state general revenue (2024)
Virginia ranks 47 of 50, highest first.
| Rank | Region | Federal funds as a share of state general revenue |
|---|---|---|
| 44 | Idaho | 28.8% |
| 45 | California | 28.0% |
| 46 | Utah | 26.7% |
| 47 | Virginia | 26.7% |
| 48 | Kansas | 24.9% |
| 49 | Hawaii | 24.0% |
| 50 | North Dakota | 23.9% |
State tax collections per person (2025)
Virginia ranks 18 of 50, highest first.
| Rank | Region | State tax collections per person |
|---|---|---|
| 15 | Rhode Island | $4,909 |
| 16 | Maine | $4,889 |
| 17 | Oregon | $4,802 |
| 18 | Virginia | $4,533 |
| 19 | Nevada | $4,424 |
| 20 | Kansas | $4,406 |
| 21 | Idaho | $4,376 |
Individual income tax as a share of state taxes (2025)
Virginia ranks 4 of 50, highest first.
| Rank | Region | Individual income tax as a share of state taxes |
|---|---|---|
| 1 | Oregon | 63.7% |
| 2 | Massachusetts | 53.0% |
| 3 | Montana | 47.7% |
| 4 | Virginia | 47.3% |
| 5 | Georgia | 47.3% |
| 6 | California | 46.8% |
| 7 | New York | 46.6% |
General sales tax as a share of state taxes (2025)
Virginia ranks 43 of 50, highest first.
| Rank | Region | General sales tax as a share of state taxes |
|---|---|---|
| 40 | Maryland | 21.5% |
| 41 | Massachusetts | 21.0% |
| 42 | California | 19.4% |
| 43 | Virginia | 18.8% |
| 44 | New York | 15.5% |
| 45 | Vermont | 11.9% |
| 46 | Oregon | 6.9% |
State spending on public welfare per person (2024)
Virginia ranks 29 of 50, highest first. Direct general expenditure on public welfare, mainly Medicaid
| Rank | Region | State spending on public welfare per person |
|---|---|---|
| 26 | Arkansas | $2,800 |
| 27 | Mississippi | $2,742 |
| 28 | Wisconsin | $2,730 |
| 29 | Virginia | $2,685 |
| 30 | North Dakota | $2,638 |
| 31 | Montana | $2,551 |
| 32 | Missouri | $2,510 |
More on Virginia: overview · economy and jobs · health · education and schools · poverty and living standards · the United States
Sources
- U.S. Census Bureau: Annual Survey of State Government Finances: State Government Finances, U.S. and States, 2012-2024 (table GS00STATEFIN01, amounts in thousands of dollars), read 23 October 2026 · saved copy (SHA-256 72ff59b48414…)
- U.S. Census Bureau: Annual Survey of State Government Tax Collections: historical database, fiscal years to 2025 (thousands of dollars), read 23 October 2026 · saved copy (SHA-256 bdf560cd3d8f…)
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