23226 Property Tax Rate

Property owners in ZIP code 23226 (Richmond, Virginia) pay a median of $4,178/year in property taxes on homes valued at $496,300. This translates to an effective tax rate of 0.84%, which is 25% above the Virginia state average of 0.67%.

The monthly property tax burden for a median-valued home in 23226 is approximately $348, which factors into escrow payments on mortgages. This ZIP code is located within Richmond city. This is $1,935 more than the Virginia average of $2,243/year.

Compared to similar ZIP codes in Virginia, 23226 has higher property taxes. ZIP codes with similar effective rates include 22302 (0.84%) and 24018 (0.84%).

In Richmond, property taxes represent approximately 3.3% of the median household income of $126,554, 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.