Chesterfield County Property Taxes
The median property tax rate in Chesterfield is 0.92%, which is slightly lower than the national median of 0.99% but higher than Virginia's state median of 0.89%. With the median home value in Chesterfield at $304,500, the typical annual property tax bill amounts to $2,742, closely aligning with the national median of $2,690. Property taxes in Chesterfield are calculated based on the tax assessed value, which is generally lower than the actual market value due to various property tax exemptions like primary residence and agricultural exemptions. Understanding Chesterfield's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Chesterfield or another part of the county, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Chesterfield County Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.89%
Estimate Property Tax Bill
$1,780
Ownwell’s Chesterfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Chesterfield with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Chesterfield to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Chesterfield County, Virginia
Property taxes in Chesterfield play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Chesterfield is 0.92%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within Chesterfield set these rates annually, and they can vary significantly between different areas within the county. Each year, Chesterfield estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. For comparison, the city of South Chesterfield has one of the higher property tax rates in the region at 0.92%, while the city of Powhatan boasts one of the lowest at 0.91%. Analyzing how Chesterfield's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Chesterfield County Tax Rate
0.92%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chesterfield County, Virginia
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Chester | 0.91% | 0.91% | 0.92% | 0.92% | 0.92% |
| Chesterfield | 0.91% | 0.91% | 0.92% | 0.92% | 0.92% |
| Colonial Heights | 0.91% | 0.91% | 0.91% | 0.92% | 0.94% |
| Midlothian | 0.91% | 0.91% | 0.92% | 0.92% | 0.92% |
| Moseley | 0.91% | 0.91% | 0.92% | 0.99% | 1.02% |
| North Chesterfield | 0.91% | 0.92% | 0.92% | 0.92% | 0.92% |
| Petersburg | N/A | N/A | N/A | N/A | N/A |
| Powhatan | 0.91% | 0.91% | 0.91% | 0.91% | 0.91% |
| Richmond | N/A | N/A | N/A | N/A | N/A |
| South Chesterfield | 0.91% | 0.92% | 0.92% | 0.92% | 0.93% |
Source: Ownwell
Property Tax Assessment Values Across Chesterfield County, Virginia
In Chesterfield, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Chesterfield Appraisal District. The assessed value, however, is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. Assessment notices in Chesterfield are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. The highest median tax bill in Chesterfield is $4,408 in Moseley, while the lowest is $154 in Colonial Heights. Being aware of these valuation processes in Chesterfield will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Chesterfield County, Virginia
Source: Ownwell
$2,400
$260,200
$518,000
Average Chesterfield County Assessed Value
$304,500
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Chesterfield County, Virginia
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Chester | $86,000 | $225,500 | $295,200 | $365,000 | $448,600 |
| Chesterfield | $122,600 | $242,300 | $331,100 | $435,100 | $540,050 |
| Colonial Heights | $2,300 | $4,500 | $15,200 | $63,350 | $193,240 |
| Midlothian | $216,900 | $284,750 | $364,300 | $484,300 | $649,460 |
| Moseley | $100,000 | $332,300 | $467,800 | $565,825 | $669,700 |
| North Chesterfield | $150,420 | $211,800 | $263,200 | $322,800 | $383,100 |
| Petersburg | N/A | N/A | N/A | N/A | N/A |
| Powhatan | $2,400 | $2,400 | $2,400 | $2,400 | $2,400 |
| Richmond | N/A | N/A | N/A | N/A | N/A |
| South Chesterfield | $42,480 | $162,500 | $216,100 | $292,100 | $378,400 |
Source: Ownwell
Property Tax Bills Across Chesterfield County, Virginia
In Chesterfield County, VA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. Homeowners in Chesterfield County face a range of property tax bills, with the 25th percentile at $2,022 and the 75th percentile reaching $3,612, indicating a significant variation depending on property value and location within the county. For those in the 90th percentile, tax bills can be as high as $4,833. Comparatively, Chesterfield County's property tax rate is competitive when measured against the national median property tax rate of 0.99%. Homeowners in Moseley experience the highest median tax bill at $4,408, while those in Colonial Heights benefit from the lowest median tax bill at just $154. These variations underscore the importance of understanding how assessed values and local tax rates impact overall tax obligations, which can significantly affect a homeowner's annual expenses.
Average Chesterfield County Tax Bill
$2,742
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Chesterfield County, Virginia
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Chester | $89 | $1,876 | $2,601 | $3,235 | $3,966 |
| Chesterfield | $735 | $2,141 | $2,962 | $3,917 | $4,859 |
| Colonial Heights | $22 | $41 | $154 | $581 | $1,802 |
| Midlothian | $1,912 | $2,598 | $3,337 | $4,444 | $5,941 |
| Moseley | $910 | $3,112 | $4,408 | $5,304 | $6,224 |
| North Chesterfield | $825 | $1,874 | $2,385 | $2,939 | $3,487 |
| Petersburg | N/A | N/A | N/A | N/A | N/A |
| Powhatan | $22 | $22 | $22 | $22 | $22 |
| Richmond | N/A | N/A | N/A | N/A | N/A |
| South Chesterfield | $74 | $1,244 | $1,924 | $2,589 | $3,354 |
Source: Ownwell