Richmond city, Virginia Property Taxes
Census Bureau ACS property tax data for Virginia. Population: 44,386.
The median annual property tax in Richmond city is $2,834, which is 45% higher than the Virginia state average and 47% above the national average. The effective tax rate is 0.86% on a median home value of $328,100. Property taxes represent 4.5% of the median household income in this county.
Median Annual Tax
$2,834
+45% vs State
+47% vs US
Median Home Value
$328,100
+18% vs State
+55% vs US
Effective Tax Rate
0.86%
+28% vs State
-9% vs US
With vs Without Mortgage
With Mortgage
$2,798
$233/mo
Without Mortgage
$2,932
$244/mo
Homeowners with a mortgage typically own higher-valued properties, which can result in higher tax bills.
Property Tax History
| Year | Median Tax | Effective Rate |
|---|---|---|
| 2023 | $2,834 +4.2% | 0.86% |
| 2022 | $2,721 +8.8% | 0.88% |
| 2021 | $2,500 +4.1% | 0.95% |
| 2020 | $2,401 +3.0% | 0.98% |
| 2019 | $2,331 | 1.01% |
Tax Burden
Tax-to-Income Ratio
4.5%
of median household income
Median Income
$62,671
per year
Monthly Tax
$236
per month
Other Counties in Virginia
Charles City County
Tax: $1,354/yr Rate: 0.60%
Gloucester County
Tax: $1,718/yr Rate: 0.59%
Bedford County
Tax: $1,265/yr Rate: 0.46%
Culpeper County
Tax: $2,119/yr Rate: 0.55%
Nelson County
Tax: $1,517/yr Rate: 0.54%
Southampton County
Tax: $1,380/yr Rate: 0.66%
Frequently Asked Questions
What is the average property tax in Richmond city, Virginia? ▼
The median annual property tax in Richmond city is $2,834 based on the most recent Census Bureau American Community Survey data. The effective tax rate is 0.86% on a median home value of $328,100.
How does Richmond city property tax compare to the national average? ▼
Property taxes in Richmond city are 47% above the national average of $1,923. The effective rate of 0.86% compares to 0.95% nationally.
Does having a mortgage affect property taxes in Richmond city? ▼
In Richmond city, homeowners with a mortgage pay a median of $2,798 in annual property taxes, while homeowners without a mortgage pay $2,932. This difference often reflects the value of homes rather than different tax rates.
What percentage of income goes to property taxes in Richmond city? ▼
Property taxes in Richmond city represent approximately 4.5% of the median household income of $62,671. The national benchmark is generally 2-4% of household income.
Explore More Data
Data source: U.S. Census Bureau, American Community Survey 5-Year Estimates. Property tax data reflects median amounts paid by homeowners. Effective rates are calculated as median tax divided by median home value.