Richmond property tax calculator 2026
This Richmond property tax calculator estimates annual real estate tax using assessed value and the official City of Richmond tax rate.
Estimates only. Results may differ from official tax bills, pay stubs, or filed returns.
Estimated property tax
See our research on states with the highest property taxes
Enter the assessed value to see the estimated annual property tax.
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How it works
Richmond levies real estate tax at $1.20 per $100 of assessed value. This calculator uses the mathematically equivalent decimal rate of 0.012. The estimate multiplies assessed value by 0.012.
Examples
If a property has an assessed value of 400,000, the estimated annual tax would be 400,000 × 0.012 = 4,800.
Limitations and important notes
This calculator provides an estimate, not an official tax bill. The City assesses property at 100% of fair market value. Exemptions, relief programs, or classification-based exclusions may apply and are not automatically included.
FAQs
Is Richmond property assessed at market value?
Yes. Virginia law requires real property to be assessed at 100% of fair market value.
What is the Richmond real estate tax rate?
The City of Richmond real estate tax rate is $1.20 per $100 of assessed value.
Are there separate school or district rates?
No. The published real estate tax rate applies citywide for general purposes.
Can exemptions reduce taxable value?
Certain exemption and relief programs are available for qualifying properties, including disabled veterans and qualifying residents.
Calculations are simplified and for guidance only. Always double-check results and current rules with official sources or a qualified professional before making financial decisions.