23225 Property Tax Rate

Property owners in ZIP code 23225 (Richmond, Virginia) pay a median of $2,513/year in property taxes on homes valued at $292,800. This translates to an effective tax rate of 0.86%, which is 27% above the Virginia state average of 0.67%.

The monthly property tax burden for a median-valued home in 23225 is approximately $209, which factors into escrow payments on mortgages. This ZIP code is located within Richmond city. This is $270 more than the Virginia average of $2,243/year.

Compared to similar ZIP codes in Virginia, 23225 has higher property taxes. ZIP codes with similar effective rates include 23523 (0.86%) and 22204 (0.86%).

In Richmond, property taxes represent approximately 4.1% of the median household income of $60,865, providing context for the relative tax burden on homeowners in this area.

Virginia has no state property tax — Richmond city's higher effective rate (1.08%) reflects local tax policy, and assessments are not automatically reset at purchase. Richmond qualifies for the state Circuit Breaker program for seniors 65+ and disabled residents with limited income; apply to the Richmond Assessor's office to reduce your annual tax burden. File a formal assessment appeal with the City of Richmond Assessor within the 30-day window after receiving your official assessment notice.