Chesterfield, Chesterfield County, Virginia Property Taxes
Median Chesterfield, VA effective property tax rate: 0.92%, slightly lower than the national median of 1.02%, but higher than the Virginia state median of 0.89%.
Median Chesterfield, VA home value: $331,100
Median annual Chesterfield, VA tax bill: $2,962, $562 higher than the national median property tax bill of $2,400.
How are property taxes in Chesterfield calculated?
Property taxes in Chesterfield, 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 Chesterfield’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Chesterfield, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Chesterfield, Chesterfield County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.92%
Estimate Property Tax Bill
$3,046
$2,827
Property Tax Rates Across Chesterfield, Chesterfield County, Virginia
Local government entities set tax rates, which can vary widely within a state. Chesterfield in Virginia is no exception. Annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
In Chesterfield, the effective property tax rate is 0.92%, which is slightly below the national median of 1.02%. This means that homeowners in Chesterfield generally pay less in property taxes compared to the national average. However, when comparing Chesterfield to other areas within Virginia, the rate is consistent, as it also represents the highest and lowest median tax rates in the region. Understanding these rates can help homeowners make informed decisions about property investments and financial planning. By appealing property taxes or seeking exemptions, residents can potentially reduce their tax burden, enhancing their financial well-being.
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 Chesterfield Tax Rate
0.92%
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 Chesterfield County Tax Rate
0.92%
Median Effective Virginia Tax Rate
0.89%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Chesterfield, Chesterfield County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23832 | 0.91% | 0.92% | 0.92% | 0.92% | 0.92% |
| 23838 | 0.91% | 0.91% | 0.92% | 0.92% | 0.92% |
Source: Ownwell
Property Tax Assessment Values Across Chesterfield, Chesterfield County, Virginia
When examining property taxes in Chesterfield, 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 Chesterfield 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.
In Chesterfield County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. 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 Chesterfield.
For example, the median home price in Chesterfield is $331,100, with tax bills ranging significantly across the county. Zip code 23838 has the highest median home price at $394,000.
Property Tax Assessment Values Across Chesterfield, Chesterfield County, Virginia
Source: Ownwell
$15,200
$266,600
$518,000
Median Chesterfield Market Value
$331,100
Median Chesterfield County Market Value
$304,500
Median Virginia Market Value
$298,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Chesterfield, Chesterfield County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23832 | $188,900 | $240,500 | $308,400 | $394,325 | $481,850 |
| 23838 | $85,890 | $254,800 | $394,000 | $513,975 | $633,720 |
Source: Ownwell
Property Tax Bills Across Chesterfield, Chesterfield County, Virginia
Property Tax Bills Across Chesterfield, Chesterfield County, Virginia
Source: Ownwell
$154
$2,447
$4,739
Median Chesterfield Tax Bill
$2,962
Median Chesterfield County Tax Bill
$2,742
Median Virginia Tax Bill
$2,608
Median United States Tax Bill
$2,400
Property Tax Bills Across Chesterfield, Chesterfield County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23832 | $919 | $2,154 | $2,784 | $3,567 | $4,368 |
| 23838 | $551 | $2,009 | $3,467 | $4,596 | $5,662 |
Source: Ownwell