Richmond, VA Property Tax Calculator
Estimate property tax for a home in Richmond, VA. Homes in Richmond are assessed by City of Richmond, where the effective property tax rate runs about 1.15% of market value — so a median-priced Richmond home of $345,000 generates roughly $3,967 in annual property tax. Enter your specific home value below for a custom estimate.
Annual Tax
$3,968
1.15% of $345,000
Monthly Tax
$331
Typically escrowed with your mortgage
State Rank
#33 of 51
Highest rate = #1
vs. National Average
Highest property tax states
- New Jersey2.49%
- Illinois2.23%
- New Hampshire2.18%
- Connecticut2.15%
- Vermont1.90%
Lowest property tax states
- Hawaii0.32%
- Alabama0.41%
- Colorado0.55%
- Louisiana0.56%
- District of Columbia0.57%
These are state-level averages. Individual counties and cities can vary significantly — a home in Austin's urban core may have a far higher effective rate than the Texas state average, for example. For the most accurate estimate, get the exact millage rate from your county assessor and override the rate field above.
How to use it
A two-minute guide.
The Home Value field is pre-filled with Richmond's median home value of $345,000. Override with your actual home's market value for a specific estimate — your tax bill scales linearly with home value.
The rate is pre-filled with City of Richmond's effective rate of 1.15% — the county-level average for owner-occupied homes, which is more precise than Virginia's statewide average of 0.82%. Individual school districts and special taxing zones within Richmond still shift the exact figure — if you know the rate from your latest tax bill, override it for the most precise estimate.
You'll see your estimated annual property tax, the monthly amount (which is typically escrowed with your mortgage payment), and a comparison to other states.
How it works
The math behind the result.
How Richmond's tax bill works out. Homes in Richmond are assessed and billed through City of Richmond. The effective rate there averages about 1.15% of market value — above Virginia's statewide average of 0.82%. On Richmond's median home value of $345,000, that's approximately $3,967/year, or $331/month when escrowed with your mortgage.
How assessment works in Virginia. Virginia's independent cities assess at 100% of market value — most large cities annually. The city, not a county, is the taxing authority for Virginia Beach, Norfolk, Chesapeake, and Richmond.
Exemptions worth claiming. Relief is local: most cities offer programs for income-qualified seniors and disabled homeowners, and 100% disabled veterans are fully exempt statewide. Exemptions are the most common reason two identical Richmond homes pay different tax bills — make sure yours are on file with City of Richmond.
What property tax actually pays for. In Richmond — like the rest of Virginia — property tax funds local schools, public safety (police, fire), road maintenance, parks, libraries, and county government. Most of your bill stays in your county and school district.
Comparing to other states. Effective rates vary enormously across the US — from about 0.3% in Hawaii to nearly 2.5% in New Jersey. Richmond's 1.15% puts it near the middle nationally.
Questions
Frequently asked.
Buying in Richmond? Estimate your full mortgage payment with our Richmond Mortgage Calculator. Or see how Virginia property tax rates compare across the state with our Virginia Property Tax Calculator.
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