23234 Property Tax Rate

Property owners in ZIP code 23234 (Richmond, Virginia) pay a median of $1,874/year in property taxes on homes valued at $237,300. This translates to an effective tax rate of 0.79%, which is 17% above the Virginia state average of 0.67%.

The monthly property tax burden for a median-valued home in 23234 is approximately $156, which factors into escrow payments on mortgages. This ZIP code is located within Chesterfield County. This is $369 less than the Virginia average of $2,243/year.

Compared to similar ZIP codes in Virginia, 23234 has higher property taxes. ZIP codes with similar effective rates include 24086 (0.79%) and 24201 (0.79%).

In Richmond, property taxes represent approximately 2.9% of the median household income of $63,630, providing context for the relative tax burden on homeowners in this area.

Virginia has no state property tax — Chesterfield County assessments are set locally and do not reset at sale; however, the county's Land Use Taxation program can reduce taxes on agricultural or open-space property if you qualify. Chesterfield offers a Circuit Breaker tax relief program for elderly (65+) and disabled homeowners with limited income — contact the Chesterfield County Assessor's office to verify income thresholds and application deadlines. File any assessment appeal with the Chesterfield County Assessor within 30 days of receiving your assessment notice.