Richmond City County, Virginia Property Taxes
Property Taxes in Richmond City County, Virginia
Median Richmond city property tax rate: 1.20%, significantly higher than the national median of 1.02%.
Median Richmond city home value: $290,000
Median annual Richmond city tax bill: $3,480, $1,080 lower than the national median property tax bill of $2,400.
How are property taxes in Richmond city calculated?
Property taxes in Richmond city 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 Richmond city’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Whether you live in Richmond city or another part of Richmond city, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
Richmond City County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.2%
Estimate Property Tax Bill
$3,480
$3,229
How Does the Richmond city Property Tax Calculator Work?
Use this Richmond city property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Richmond city's median effective tax rate of 1.20% to generate your estimate.
Enter your property's estimated assessed value — the figure used for tax purposes, which is typically lower than market value after applicable exemptions. Our calculator uses the median effective rate for a more accurate estimate than the statutory millage rate alone.
Your actual bill may vary based on your specific exemptions, local school district levies, and any special assessment districts that apply to your property. Richmond city's median tax rate is higher than Virginia's 0.90% median rate and the median tax bill is $1,080 higher than the state median bill.
For a more precise estimate, scroll down to explore city and ZIP code-level tax rate trends across Richmond city.
Property Tax Rates Across Richmond City County, Virginia
What Are Effective Property Tax Rates Across Richmond city?
Local government entities set tax rates, which vary widely across Richmond city. Each year, the county estimates its budget for public services and divides that total by the assessed value of all taxable property within its jurisdiction.
Below, compare Richmond city’s effective property tax rate to other counties in Virginia or the U.S. median of 1.02%.
Richmond city’s median effective rate stands at 1.20%, which is higher than the national median of 1.02%. Within Richmond city, the highest rate is found in HENRICO at 1.20%, while HENRICO has the lowest at 1.20%.
These variations reflect differences in local school district levies, special assessment districts assessments, and special district bonds — which compound the base county rate.
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 Richmond City County Tax Rate
1.20%
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 Virginia Tax Rate
0.90%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Richmond City County, Virginia
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Henrico | 1.20% | 1.20% | 1.20% | 1.20% | 1.20% |
| Midlothian | 1.20% | 1.20% | 1.20% | 1.20% | 1.20% |
| North Chesterfield | 1.20% | 1.20% | 1.20% | 1.20% | 1.20% |
| Richmond | 1.20% | 1.20% | 1.20% | 1.20% | 1.20% |
Source: Ownwell
Property Tax Assessment Values Across Richmond City County, Virginia
When examining property taxes in Richmond city, 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 Richmond city assessor 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.
Assessment notices:
In Richmond city, assessment notices are sent in the spring each year. They'll typically reach your mailbox by the middle of September.
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. For example, the median tax bill in Richmond city is $3,480, compared with the national median property tax bill of $2,400. Tax bills range significantly across the city, from $2,340 at the 25th percentile to $7,992 at the 90th percentile. Midlothian has the highest median home price at $740,000.
Property Tax Assessment Values Across Richmond City County, Virginia
Source: Ownwell
$186,000
$463,000
$740,000
Median Richmond City County Market Value
$290,000
Median Virginia Market Value
$323,500
Median United States Market Value
$235,294
Property Tax Assessment Values Across Richmond City County, Virginia
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Henrico | $73,600 | $149,000 | $290,000 | $321,000 | $702,400 |
| Midlothian | $413,300 | $630,000 | $740,000 | $899,000 | $1,097,900 |
| North Chesterfield | $312,100 | $354,000 | $447,000 | $535,500 | $579,100 |
| Richmond | $146,000 | $195,000 | $290,000 | $443,000 | $665,000 |
Source: Ownwell
Property Tax Bills Across Richmond City County, Virginia
Property tax bills in Richmond city are calculated by multiplying a home’s assessed value by the local tax rate. The assessed value is based on the market value of the property, along with the rules used by the local assessor. Factors such as location, property characteristics, and changes in the housing market can all affect the final assessment.
For homeowners, this means a higher assessed value can lead to a larger tax bill, even if the home has not been sold. In Richmond city, the median home price is $290,000, and tax bills vary widely across the area. The 25th percentile tax bill is $2,340, while the 75th percentile is $5,316 and the 90th percentile reaches $7,992. That spread shows how much property taxes can differ from one homeowner to another based on assessed value and local tax rules.
Median Richmond City County Tax Bill
$3,480
Median Virginia Tax Bill
$2,852
Median United States Tax Bill
$2,400
Property Tax Bills Across Richmond City County, Virginia
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Henrico | $883 | $1,788 | $3,480 | $3,852 | $8,429 |
| Midlothian | $4,960 | $7,560 | $8,880 | $10,788 | $13,175 |
| North Chesterfield | $3,745 | $4,248 | $5,364 | $6,426 | $6,949 |
| Richmond | $1,752 | $2,340 | $3,480 | $5,316 | $7,980 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | October 1 |
Links | |
|---|---|
| Richmond City Tax Assessor | |
| Website | www.actdatascout.com |