Virginia · County property tax · ACS 2024
Richmond city Property Taxes
The median homeowner in Richmond city pays $3,150 a year, an effective rate of 0.89%, far above the U.S. average.
- $3,150
- Median tax / yr · High bill
- 0.89%
- Effective rate · Above-median rate
- +58%
- vs U.S. average
- #18 of 133
- rank in VA
The verdict
Homeowners in Richmond city pay a median $3,150 a year in property tax, an effective rate of 0.89%, more affordable than 44% of U.S. counties (Census ACS 2024).
- $3,150
- Median annual tax bill, 2024
- 0.89%
- Effective rate on median home
- #1770 of 3135
- U.S. counties by tax burden
- +58%
- vs the national average bill
Effective rate is the median property tax bill divided by the median home value ($353,000). U.S. Census Bureau, ACS 5-Year Estimates · 2024.
Census Bureau ACS property tax data for Virginia. Population: 229,359. Owner-occupied homes: 45,407.
The median annual property tax in Richmond city is $3,150, which is 13% higher than the Virginia state average and 58% above the national average. The effective tax rate is 0.89% on a median home value of $353,000. Property taxes represent 4.9% of the median household income in this county.
Why Richmond city's ACS bill runs high vs the U.S.
Primary signal
The bill sits well above the national median
Homeowners in Richmond city pay a median annual property tax of $3,150, far above the national median and notably higher than the Virginia state median. On a $353,000 median home, that works out to an effective rate of 0.89% once the local assessment base and millage are combined.
Decision signal 2
Low among Virginia counties by effective rate
Richmond city ranks #18 of 133 counties in Virginia by effective rate (86% of in-state counties pay a lower rate).
Decision signal 3
Income and the tax bill sit in the middle band
Property taxes in Richmond city run a bit above the commonly cited 2%-4% national benchmark, at about 4.9% of the $64,587 median household income.
Decision signal 4
The effective rate sits near the national middle
Richmond city's 0.89% effective rate sits near the middle of 3,135 tracked counties (more affordable than 44%).
Informational notice
Figures describe the median homeowner household in Richmond city as reported to the Census Bureau; your parcel can differ. Not tax, legal, or financial advice: check the county assessor or a qualified professional before decisions that depend on these numbers.
Most of the market's rise reached the bill
The effective rate here moved 9.2% down between 2020 and 2024, a smaller shift than in 63% of U.S. counties. With the median home value rose 44.6%, the median bill rose 31.2% to $3,150: the rate did comparatively little to offset the market.
Effective rate is the published median bill divided by the published median home value, so the two multiply back to the bill exactly; the rate's movement here is derived from those two figures rather than read from the rounded published rate. Both are ACS 5-year survey estimates for the median owner-occupied household, compared across non-overlapping releases. They describe what the Census published, not a local policy, assessment, or exemption change.
How to read this county's bill
The bill here climbed steeply over 2020-2024, up 31% from $2,401 to $3,150. These ACS medians describe the reported change; they do not identify whether a levy, assessment, home value, or change in the responding households caused it.
The heaviest band is also the fullest one here: 22,700 of 45,407 owner-occupied homes (50.0%) report annual real-estate taxes above $3,000. That band has no upper edge in the source, so the county median understates the burden carried by the plurality rather than describing it.
Earnings are below the national midpoint while the rate is above it, and the median bill equals 4.9% of median household income. The gap between those two positions is the whole story on this page.
The share above is the median annual bill divided by median household income, a ratio of two county-level medians rather than a household-by-household figure.
What Richmond city Homeowners Actually Pay
The single largest group of Richmond city homeowners, 22,700 of 45,407 owner-occupied homes (50.0%), pays $3,000 or more a year. The median is one point in this spread, not a typical bill.
- Less than $800 5.6% (2,540)
- $800 to $1,499 11.7% (5,329)
- $1,500 to $1,999 10.7% (4,862)
- $2,000 to $2,999 18.1% (8,220)
- $3,000 or more 50.0% (22,700)
Census ACS 2024, table B25102. Bands and the no-tax share sum to 100%.
1,756 homes here (3.9%) report no real estate tax at all. Exemptions are set by state: how Virginia handles assessments and appeals.
With vs Without Mortgage
Mortgaged and non-mortgaged homeowners in Richmond city pay about the same bill, a 2% gap.
Richmond city's bill vs state & U.S. medians
Median annual bill bars around Richmond city's HEAVY ACS 2024 figure.
Richmond city's median bill is 13% above the Virginia median and 58% above the U.S. median.
What changed since 2020
The median bill in Richmond city moved from $2,401 in the 2020 release to $3,150 in 2024, a change of about 31%. These are American Community Survey 5-year estimates compared across releases that share only one sample year, which is why this page never compares consecutive releases: those overlap in four years of the same households and move mostly on sampling.
Richmond city vs Benchmarks
| Metric | Richmond city | Virginia Avg | U.S. Avg |
|---|---|---|---|
| Median Annual Tax High bill | |||
| Effective Tax Rate Above-median rate | |||
| Median Home Value | |||
| Tax as % of income Highest-decile income burden | 4.9% | - | - |
Source: U.S. Census Bureau, ACS 5-Year Estimates. Tax-burden differences across rows reflect millage decisions, assessment-ratio practices, and the residential-vs-commercial mix of each tax base.
Is Richmond city's $3,150 median bill appeal-worthy?
At Richmond city's $3,150 ACS median (HEAVY), a 10% assessment cut is worth about $315/yr before exemptions. Appeal Savings Estimator · appeal guide for Virginia.
Richmond city bill trail · HEAVY
| Year | Median Tax (vs prior release) | Effective Rate |
|---|---|---|
| 2024 | $3,150 +11.2% | 0.89% |
| 2023 | $2,834 +4.2% | 0.86% |
| 2022 | $2,721 +8.8% | 0.88% |
| 2021 | $2,500 +4.1% | 0.95% |
| 2020 | $2,401 | 0.98% |
Each row is a separate ACS 5-year release, and consecutive releases share four of their five survey years. The percentage beside each bill is therefore movement in the published estimate against the previous release, not a single year's tax change. The two releases largely describe the same households. For change over time, compare releases that do not overlap.
Richmond city: tax takes 4.9% of income
Counties near Richmond city's median bill
On effective rate, Richmond city sits nearest Tyler County (TX), Lavaca County (TX), Franklin County (TX).
On published median-tax change, the nearest matches are La Plata County (CO), Coweta County (GA), Mercer County (WV).
How peers are chosen
These are the nearest cross-state matches in the published Census data, not neighboring counties or recommendations. Peers are rebuilt with each data release; see the calculation method.
Similar effective rates
Similar published median-tax changes, 2020–2024
Richmond city: only 9% of returns show Schedule A real-estate tax
Tax year 2022: 9,590 of 109,160 returns from Richmond city reported real estate taxes, averaging $6,923 - 35% of those reporters sat in the $200k+ AGI band.
What this IRS county file does not say
Amounts are reported before the SALT cap, not deducted; the share is of filers, not homeowners. Source: IRS SOI county data, tax year 2022.
Other Counties in Virginia
Richmond city bill FAQs
- How does Richmond city property tax compare to the national average?
- Property taxes in Richmond city run far above the national median of $1,993, an effective rate of 0.89% versus 0.92% nationally.
- What percentage of income goes to property taxes in Richmond city?
- Property taxes in Richmond city run a bit above the commonly cited 2%-4% national benchmark, at about 4.9% of the $64,587 median household income.
- Are property taxes increasing in Richmond city?
- The ACS median property-tax bill for Richmond city jumped 31.2% between the 2020 and 2024 5-year releases, from $2,401 to $3,150, a 4-year span. These are survey estimates covering five years each, so this compares the two releases furthest apart rather than consecutive ones, which overlap and would mostly measure the same households twice.
- What is the tax affordability score for Richmond city?
- Richmond city, Virginia scores F (31/100) on PlainPropertyTax's tax affordability composite across 5 Census ACS dimensions (effective rate, bill size, income share, mortgage gap, and home-value/income). Its strongest scored dimension here is mortgage premium at A- (+$49). The score compares published county medians to U.S. percentiles, it is not a personal bill and not advice to buy, sell, appeal, or relocate.
- What is the average property tax in Richmond city, Virginia?
- The median annual property tax in Richmond city is $3,150, an effective rate of 0.89% on a $353,000 median home (Census ACS, 2024).
What to do with Richmond city's HEAVY bill
Richmond city's $3,150 median bill sits well above the U.S. median - size a personal estimate before treating the county headline as your budget. Estimate your bill →
Richmond city ranks #18 of 133 Virginia counties by effective rate - on the higher-burden half of the state ACS set. Virginia overview →
Nationwide peers by median bill (then rate)
Bill-first peers for Richmond city's HEAVY median, then a disjoint out-of-state rate set, not the same-state geography lattice.
Similar effective rate
Nearest out-of-state counties by ACS effective rate. This county: 0.89%.
Similar median bill
Nearest out-of-state counties by ACS median annual tax. This county: $3,150/yr. Rate peers are excluded so the two link sets stay distinct.
Read with Richmond city
Nearest ABS(median_tax) ACS peers for Richmond city (UNDER · HEAVY), replacing the old fixed Keep exploring strip.
UNDER HEAVY
Grayson County, TX
ABS(median_tax) peer · $3,146/yr (near-tied bill ABS $4); rate 1.27% vs Richmond city 0.89%.
Delaware County, NY
ABS(median_tax) peer · $3,145/yr (near-tied bill ABS $5); rate 1.72% vs Richmond city 0.89%.
Washington County, TX
ABS(median_tax) peer · $3,143/yr (near-tied bill ABS $7); rate 1.09% vs Richmond city 0.89%.
Gaines County, TX
ABS(median_tax) peer · $3,142/yr (near-tied bill ABS $8); rate 1.57% vs Richmond city 0.89%.
Virginia county set
State ACS overview for every published Virginia county rate and median bill.
Assessment cycle basics
Richmond city stamps UNDER · HEAVY - how assessed value and millage become the ACS median bill.
Data vintage and method
Data as of 2024. 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.
Source: U.S. Census Bureau American Community Survey 5-Year Estimates, county median real-estate taxes · 2024 Richmond city (UNDER · HEAVY) - ACS medians, not a parcel bill.