Richmond, VA Property Tax Rates
Compare property tax rates across 14 ZIP codes in Richmond, Virginia.
Avg Tax Rate
0.84%
Avg Annual Tax
$2,794
Avg Home Value
$325,186
ZIP Codes
14
Property Tax Overview: Richmond, VA
Richmond has 14 ZIP codes with property tax data. The average effective tax rate across these ZIPs is 0.84%, which is 25% above the Virginia average of 0.67%. Annual property taxes range from $1,793 (ZIP 23222) to $3,115 (ZIP 23219).
For a home at Richmond's median value of $325,186, property taxes add approximately $229/month to housing costs. Richmond home values are close to the Virginia median of $315,212.
Property tax rates within Richmond vary by 0.37 percentage points across its ZIP codes. This variation typically reflects different school district boundaries, special assessment zones, and municipal service areas within the city.
ZIP Codes in Richmond, VA
| ZIP Code | Effective Rate | Median Tax | Median Home Value |
|---|---|---|---|
| 23222 | 0.71% | $1,793 | $252,000 |
| 23223 | 0.73% | $1,721 | $236,300 |
| 23237 | 0.76% | $1,847 | $243,100 |
| 23230 | 0.77% | $2,637 | $343,500 |
| 23234 | 0.79% | $1,874 | $237,300 |
| 23227 | 0.80% | $2,653 | $329,700 |
| 23235 | 0.81% | $2,640 | $324,800 |
| 23236 | 0.84% | $2,570 | $306,800 |
| 23226 | 0.84% | $4,178 | $496,300 |
| 23224 | 0.85% | $1,610 | $189,200 |
| 23225 | 0.86% | $2,513 | $292,800 |
| 23220 | 0.95% | $4,463 | $468,900 |
| 23221 | 1.01% | $5,498 | $544,400 |
| 23219 | 1.08% | $3,115 | $287,500 |
Richmond vs Virginia Average
Effective Tax Rate
25% above state average
Annual Property Tax
Median Home Value
Frequently Asked Questions
What is the average property tax rate in Richmond, VA?
The average effective property tax rate in Richmond, Virginia is 0.84%, based on 14 ZIP codes.
How much is property tax in Richmond, VA?
The average median annual property tax in Richmond is $2,794 per year, with a median home value of $325,186.
Which ZIP code in Richmond has the lowest property tax rate?
ZIP code 23222 has the lowest effective tax rate in Richmond at 0.71%, with a median annual tax of $1,793.
How many ZIP codes are in Richmond, VA?
Richmond, Virginia has 14 ZIP codes with property tax data available.
Which ZIP code in Richmond has the highest property tax rate?
ZIP code 23219 has the highest effective tax rate in Richmond at 1.08%, with a median annual tax of $3,115.
How do Richmond property taxes compare to the Virginia average?
Richmond's average effective rate of 0.84% is 25% above the Virginia state average of 0.67%.
What factors affect property tax rates between ZIP codes in Richmond?
Property tax rate differences within Richmond are typically driven by school district boundaries (which can account for 40–60% of a tax bill), special assessment zones for fire, water, or transit services, and whether a ZIP falls within city limits or an unincorporated area. Each taxing jurisdiction sets its own rate, which is why adjacent ZIP codes can have noticeably different effective rates.
Tips for Richmond Homeowners
- •Appeal your assessment: If your home is assessed higher than its market value, you can file a property tax appeal. Studies suggest 30–60% of properties are over-assessed. Most counties offer a free informal review process.
- •Check your exemptions: Homestead exemptions can reduce your taxable value and are available to primary residents in most states. Senior, veteran, and disability exemptions may also apply. Exemptions must typically be applied for — they are not automatic.
- •Know your assessment cycle: Virginia reassesses properties periodically. After buying a home, your next tax bill may reflect a new assessment based on your purchase price. Budget accordingly, especially if you bought above prior assessed values.
- •Compare ZIP codes before buying: Even within Richmond, effective tax rates can vary significantly across ZIP codes due to different school district overlays. Use PropertyTaxByZip to compare specific ZIPs before choosing a neighborhood.
Looking for county-level property tax data? View Richmond city on TaxByCounty.com
Data from U.S. Census Bureau, American Community Survey 2019-2023 5-Year Estimates (ZCTA level). ZIP Code Tabulation Areas (ZCTAs) are Census approximations of USPS ZIP codes.
Estimates are informational only and should not be used as financial or legal advice.