23231 Property Tax Rate

Property owners in ZIP code 23231 (Henrico, Virginia) pay a median of $1,823/year in property taxes on homes valued at $270,400. This translates to an effective tax rate of 0.67%, which is near the Virginia state average of 0.67%.

The monthly property tax burden for a median-valued home in 23231 is approximately $152, which factors into escrow payments on mortgages. This ZIP code is located within Henrico County. This is $420 less than the Virginia average of $2,243/year.

Compared to similar ZIP codes in Virginia, 23231 has higher property taxes. ZIP codes with similar effective rates include 23228 (0.67%) and 24324 (0.67%).

In Henrico, property taxes represent approximately 2.5% of the median household income of $74,245, providing context for the relative tax burden on homeowners in this area.

Virginia has no state property tax; Henrico County's 0.73% effective rate is set by local county assessment only. Homeowners age 65 or older, those with disabilities, and surviving military spouses qualify for the Circuit Breaker relief program through the Henrico County Assessor — this income-based program caps annual tax liability. Apply to the Henrico County Assessor's Office within 30 days of closing to activate relief on your property.