Richmond, Charles City County, Virginia Property Taxes

Name: Property Tax Bills Across Richmond, Charles City County, Virginia
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Richmond, VA effective property tax rate: 0.83%, significantly lower than the national median of 1.02%, but lower than the Virginia state median of 0.89%.
Median Richmond, VA home value: $169,800
Median annual Richmond, VA tax bill: $1,423, $977 lower than the national median property tax bill of $2,400.

How are property taxes in Charles City calculated?

Property taxes in Richmond, VA are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Richmond’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Richmond, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Richmond, Charles City County, Virginia Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.83%

Estimate Property Tax Bill

$1,409

$1,308

Ownwell’s Richmond Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Richmond with just two data points. By entering your property's estimated assessed value, our calculator applies Richmond’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Charles City. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Richmond, Charles City County, Virginia

Local government entities determine tax rates, leading to significant variations within a state. Each county estimates its budget needs to offer services and divides this by the total value of all taxable property in its area, resulting in the property tax rate. Although setting tax rates involves votes and laws, this is the basic annual process. In Richmond, the effective property tax rate stands out when compared to other cities in Virginia and the national average. Richmond's median property tax rate is 0.83%, which is lower than the national median property tax rate of 1.02%. This places Richmond among the more favorable locations in terms of property tax burden. When considering property tax bills, Richmond's rate offers a relative advantage, especially when compared to the national median property tax bill of $2400. This makes Richmond appealing for property owners looking for lower tax obligations. Understanding these rates can be crucial for homeowners and potential buyers aiming to optimize their financial planning.

Property Tax Rates Across Richmond, Charles City County, Virginia

Source: Ownwell

0.77%

0.80%

0.83%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Richmond Tax Rate

0.83%

Median Effective Charles City County Tax Rate

0.82%

Median Effective Virginia Tax Rate

0.89%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Richmond, Charles City County, Virginia

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
23231	0.77%	0.81%	0.83%	0.85%	0.89%

Source: Ownwell

Property Tax Assessment Values Across Richmond, Charles City County, Virginia

When examining property taxes in Richmond, VA, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Charles City County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

Assessment notices: In Charles City County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of March. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Richmond. For example, the median home price in Richmond is $169,800, with tax bills ranging significantly across the county. 23231 has the highest median home price at $169,800.

Property Tax Assessment Values Across Richmond, Charles City County, Virginia

Source: Ownwell

$83,000

$210,550

$338,100

Median Richmond Market Value

$169,800

Median Charles City County Market Value

$130,500

Median Virginia Market Value

$298,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Richmond, Charles City County, Virginia

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
23231	$84,780	$114,700	$169,800	$253,900	$338,320

Source: Ownwell

Property Tax Bills Across Richmond, Charles City County, Virginia

In Richmond, VA, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. Homeowners in Richmond face a median property tax bill of $1,423, which is significantly lower than the national median of $2,400. However, the tax burden can vary widely, with 25% of homeowners paying as little as $914, while those in the 90th percentile pay up to $2,919. The assessed value is based on factors such as property size, location, and market conditions, which can fluctuate over time. For homeowners, this means that any increase in their property's assessed value could lead to a higher tax bill. Ownwell offers a solution by providing property tax appeal and exemption services. By analyzing property assessments and identifying potential discrepancies, Ownwell can help homeowners reduce their tax burden. This not only saves money but also ensures that homeowners are not overpaying due to inaccurate assessments or overlooked exemptions.

Property Tax Bills Across Richmond, Charles City County, Virginia

Source: Ownwell

$691

$1,672

$2,653

Median Richmond Tax Bill

$1,423

Median Charles City County Tax Bill

$1,115

Median Virginia Tax Bill

$2,608

Median United States Tax Bill

$2,400

Property Tax Bills Across Richmond, Charles City County, Virginia

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
23231	$699	$914	$1,423	$2,228	$2,919

Source: Ownwell