Owning a home in vibrant Central Richmond is a dream for many, but deciphering the RVA real estate taxes landscape can feel like a cryptic Sudoku puzzle. Worry not, intrepid homeowners! This post breaks down the tax rates across neighboring counties and cities, empowering you to budget savvy and make informed decisions with a Central Virginia real estate tax guide.
County Tax Rates
Charles City County
$0.66 / $100
Chesterfield County
$0.91 / $100
Goochland County
$0.53 / $100
Hanover County
$0.81 / $100
Henrico County
$0.85 / $100
King William County
$0.58 / $100
New Kent County
$0.67 / $100
Powhatan County
$0.69 / $100
City/Town Tax Rates
City of Colonial Heights
$1.20 / $100
City of Hopewell
$1.13 / $100
City of Petersburg
$1.27 / $100
City of Richmond
$1.20 / $100
Town of Ashland
$0.10 / $100 + Hanover County’s $0.81 / $100
The Base Camp:
- Central Richmond Tax Rates: In the City of Richmond, you’ll encounter a base rate of $1.20 per $100 of assessed property value. So, a $500,000 home translates to a yearly tax bill of $6,000 ($500/month).
- Beyond the City Walls: Venture outwards, and you’ll discover a diverse map of rates. Hanover County sits comfortably at $0.81 per $100, while Chesterfield County comes in slightly higher at $0.91 per $100. For a more rural escape, Goochland County offers a sweet deal at $0.53 per $100.
Neighborly Comparisons:
- City of Hopewell: Just across the James River, Hopewell welcomes you with a base rate of $1.13 per $100, making it a slightly more affordable option compared to Richmond.
- Henrico County: Head north, and you’ll find Henrico County with a rate of $0.85 per $100.
- Powhatan County: Craving rural serenity? Powhatan County beckons with a base rate of $0.69 per $100, significantly lower than Central Richmond.
Bonus Round:
- Town of Ashland: Nestled within Hanover County, the charming town of Ashland boasts a unique two-tiered system. On top of Hanover’s $0.81 rate, Ashland adds a mere $0.10, making it a budget-friendly haven within a stone’s throw of Richmond.
Empowering Resources:
- City of Richmond Real Estate Tax Page: https://apps.richmondgov.com/applications/propertysearch/
- Virginia Department of Taxation Local Tax Rates: https://www.tax.virginia.gov/local-tax-rates
- Interactive Assessment Search Tool: https://www.rva.gov/finance/real-estate
Pro Tips:
- Appeal Your Assessment: If you believe your property value is inflated, you can formally appeal the assessment.
- Seek Professional Help: Consider consulting a tax advisor or real estate agent for personalized guidance.
- Stay Informed: Regularly check City Council updates and public notices for potential changes in tax rates and levies.
By understanding the real estate tax landscape, you can take control of your finances and make informed decisions about your Central Richmond home. Remember, knowledge is power! So, arm yourself with these insights and navigate the tax terrain with confidence.
The information provided on this website/publication regarding real estate tax rates is for informational purposes only and should not be construed as professional tax advice. The rates presented are accurate to the best of our knowledge as of 1/1/2024, but may be subject to change without notice. It is strongly recommended that you consult with a qualified tax professional or directly contact your local tax assessor for accurate and personalized information regarding your specific property and tax situation.
