Henrico, Richmond County, Virginia Property Taxes
Property Taxes in Henrico, Virginia
Median Henrico, Virginia effective property tax rate: 0.60%, significantly lower than the national median of 1.02%, and lower than the Virginia state median of 0.90%.
Median Henrico, Virginia home value: $23,890
Median annual Henrico, Virginia tax bill: $143, $2,257 lower than the national median property tax bill of $2,400.
How are property taxes in Richmond calculated?
Property taxes in Henrico, Virginia 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 April 13, 2026
Henrico, Richmond County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.6%
Estimate Property Tax Bill
$143
$133
How Does the Henrico Property Tax Calculator Work?
Use this Henrico property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Henrico's median effective tax rate of 0.60% — based on actual property records in Richmond County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local appraisal district uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Henrico's median effective rate across all local levies, providing a more accurate estimate than applying a single county millage rate.
Your bill may vary by ZIP code within Henrico: rates range from the lowest ZIP rate to the highest ZIP, primarily due to differences in school district levies and local assessment districts.
For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Henrico.
About Henrico Property Taxes
About Property Taxes in Henrico, Richmond, Virginia
Henrico's median effective property tax rate of 0.60% is lower than the Virginia state median of 0.90% and lower than the national median of 1.02%. This rate reflects the Richmond County base levy combined with local school district levies and special assessment districts that vary by subdivision throughout the city.
Property tax rates are not uniform across Henrico. Homeowners in the highest ZIP code carry a median effective rate of 0.60%, while those in the lowest ZIP code pay 0.60%. This spread — 0.00 percentage points across the same city — reflects how school district boundaries and local assessment districts are drawn across Richmond County. Understanding which part of Henrico you live in can make a meaningful difference to your annual tax bill.
Henrico homeowners who believe their assessed value is too high can file a formal appeal with the local Tax Assessor before the deadline each year.
If your estimated bill above seems higher than expected, Ownwell can review your assessment and protest on your behalf. You only pay if we save you money.
Property Tax Rates Across Henrico, Richmond County, Virginia
As noted earlier, local government entities set tax rates, which can vary widely within a state.
Why? Because annually, each county 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 there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
Below, you can compare Henrico's effective property tax rate to other cities in Virginia and the median property tax rates in Virginia and the U.S.
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
0.60%
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 County Tax Rate
0.60%
Median Effective Virginia Tax Rate
0.90%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Henrico, Richmond County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23231 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Henrico, Richmond County, Virginia
When examining property taxes in Henrico, Virginia, 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 County 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 County, assessment notices are sent in the spring each year. They'll typically reach your mailbox by the middle of the spring.
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 $23,890, with tax bills ranging significantly across the county. The median tax bill is $143, which is far below the national median property tax bill of $2,400 and the national median property tax rate of 1.02%.
Property Tax Assessment Values Across Henrico, Richmond County, Virginia
Source: Ownwell
$161,835
$192,977
$224,119
Median Henrico Market Value
$23,890
Median Richmond County Market Value
$193,705
Median Virginia Market Value
$323,500
Median United States Market Value
$235,294
Property Tax Assessment Values Across Henrico, Richmond County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23231 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Henrico, Richmond County, Virginia
How are property tax bills calculated in Henrico?
Property tax bills in Henrico are based on the assessed value of a home and the local tax rate set by the county. The assessed value reflects the market value of the property, and that figure is multiplied by the tax rate to determine the annual bill. For homeowners, this means that changes in market value or local tax policy can directly affect what they owe each year.
What factors affect the bill? The biggest drivers are the home’s assessed value, any exemptions that may apply, and the tax rate used by Richmond County. For homes in this area, the median property tax bill is $143, which is far below the national median property tax bill of $2,400. That lower bill can make homeownership more affordable, but even modest increases in assessed value can still raise costs over time.
Median Henrico Tax Bill
$143
Median Richmond County Tax Bill
$1,145
Median Virginia Tax Bill
$2,852
Median United States Tax Bill
$2,400
Property Tax Bills Across Henrico, Richmond County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23231 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell