Bristol Virginia Real Estate Taxes Are Expected To Go Up More Than Earlier Projected. The City’s Property Tax Rate Is Currently $1.07 Per 100 Dollars Of Assessed Value But Is Expected To Increase To $1.09 As Of July 1st. The Only Problem, It Looks Like That’s Not Going To Be Enough To Balance The 2015-16 Fiscal Year Budget. School Officials Alone, See The Need For An Additional 800-Thousand Dollars In Local Funding. A Draft Of The Budget Will Be Presented To City Leaders On March 10th.