Henrico, Goochland County, Virginia Property Taxes
Median Henrico, VA effective property tax rate: 0.53%, significantly lower than the national median of 1.02%, but lower than the Virginia state median of 0.89%.
Median Henrico, VA home value: $518,500
Median annual Henrico, VA tax bill: $2,529, $129 higher than the national median property tax bill of $2,400.
How are property taxes in Goochland calculated?
Property taxes in Henrico, VA are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Henrico’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Henrico, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Henrico, Goochland County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.53%
Estimate Property Tax Bill
$2,748
$2,550
Property Tax Rates Across Henrico, Goochland County, Virginia
Local government entities set tax rates, which can vary widely within a state. This variation occurs because each county annually estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While votes and laws play a role in setting tax rates and budgets, in a nutshell, this is the annual process.
In Henrico, located in Goochland County, VA, the effective property tax rate is notably lower than the national median of 1.02%. This rate reflects the county's approach to balancing its budget needs with the assessed value of properties. When compared to other cities in Virginia and the U.S. median property tax rates, Henrico offers a more favorable tax environment. This can be particularly appealing to property owners looking for more manageable tax bills, as the national median property tax bill stands at $2,400. Henrico's effective property tax rate provides a competitive edge, making it an attractive option for homeowners seeking a balance between quality public services and reasonable tax obligations.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Henrico Tax Rate
0.53%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Goochland County Tax Rate
0.53%
Median Effective Virginia Tax Rate
0.89%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Henrico, Goochland County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23238 | 0.10% | 0.51% | 0.53% | 0.53% | 0.53% |
| 23233 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Henrico, Goochland County, Virginia
When examining property taxes in Henrico, VA, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Goochland County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Goochland County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Henrico. For example, the median home price in Henrico is $518,500, with tax bills ranging significantly across the county. 23238 has the highest median home price at $519,800.
Property Tax Assessment Values Across Henrico, Goochland County, Virginia
Source: Ownwell
$242,900
$541,400
$839,900
Median Henrico Market Value
$518,500
Median Goochland County Market Value
$453,700
Median Virginia Market Value
$298,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Henrico, Goochland County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23238 | $445,840 | $465,800 | $519,800 | $660,000 | $803,460 |
| 23233 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Henrico, Goochland County, Virginia
Median Henrico Tax Bill
$2,529
Median Goochland County Tax Bill
$2,269
Median Virginia Tax Bill
$2,608
Median United States Tax Bill
$2,400
Property Tax Bills Across Henrico, Goochland County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23238 | $559 | $929 | $2,529 | $2,839 | $3,602 |
| 23233 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell