Richmond County, Virginia Property Taxes

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

Median Richmond County effective property tax rate: 0.70%, significantly lower than the national median of 1.02%.
Median Richmond County home value: $134,435
Median annual Richmond County tax bill: $931, $1,469 lower than the national median property tax bill of $2,400.

How are property taxes in Richmond County calculated?

Property taxes in Richmond County 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 your county's property tax system, exemptions, and reduction opportunities can lead to significant savings. Whether you live in Warsaw or another part of Richmond County, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Richmond County, Virginia Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.7%

Estimate Property Tax Bill

$941

$873

Ownwell’s Richmond County Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Richmond County with just two data points. By entering your property's estimated assessed value, our calculator applies Richmond County’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 more 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 Richmond County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Richmond County, Virginia

Local government entities set tax rates, which can vary widely within a state. 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. Below, you can compare Richmond County's effective property tax rate to other counties in Virginia or the U.S. median property tax rate. Richmond County's property tax rate is below the national median of 1.02%, reflecting a more favorable tax environment compared to many areas across the country. This lower rate can be appealing for property owners seeking to reduce their annual tax burden. It's important to stay informed about how these rates are determined and how they fluctuate, as they directly impact property expenses. Understanding this process can empower property owners to make informed decisions and potentially save money through tax appeals and exemptions.

Property Tax Rates Across Richmond County, Virginia

Source: Ownwell

0.70%

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 County Tax Rate

0.70%

Median Effective Virginia Tax Rate

0.89%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Richmond County, Virginia

City	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
Callao	0.70%	0.70%	0.70%	0.70%	0.70%
Farnham	0.70%	0.70%	0.70%	0.70%	0.70%
Warsaw	0.70%	0.70%	0.70%	0.70%	0.70%
Haynesville	N/A	N/A	N/A	N/A	N/A
Heathsville	N/A	N/A	N/A	N/A	N/A
Henrico	N/A	N/A	N/A	N/A	N/A
Lancaster	N/A	N/A	N/A	N/A	N/A
Montross	N/A	N/A	N/A	N/A	N/A
Richmond	N/A	N/A	N/A	N/A	N/A
Sharps	N/A	N/A	N/A	N/A	N/A
Village	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Richmond County, Virginia

When examining property taxes in Richmond County, 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 Richmond 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 Richmond 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 Richmond County. For example, the median tax bill in Richmond County is $941, with tax bills ranging significantly across the county. Warsaw has the highest median home price at $135,849.

Property Tax Assessment Values Across Richmond County, Virginia

Source: Ownwell

$108,981

$122,415

$135,849

Median Richmond County Market Value

$134,435

Median Virginia Market Value

$298,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Richmond County, Virginia

City	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
Callao	$47,671	$81,884	$108,981	$145,924	$198,132
Farnham	$50,900	$86,330	$134,835	$209,832	$347,734
Warsaw	$42,434	$87,756	$135,849	$206,082	$319,409
Haynesville	N/A	N/A	N/A	N/A	N/A
Heathsville	N/A	N/A	N/A	N/A	N/A
Henrico	N/A	N/A	N/A	N/A	N/A
Lancaster	N/A	N/A	N/A	N/A	N/A
Montross	N/A	N/A	N/A	N/A	N/A
Richmond	N/A	N/A	N/A	N/A	N/A
Sharps	N/A	N/A	N/A	N/A	N/A
Village	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Richmond County, Virginia

In Richmond County, VA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the market value, reflecting the property's worth. Homeowners in Richmond County face a median tax bill of $941, which is below the national median of $2,400. This makes the area relatively affordable for property owners. Tax bills can vary significantly, with the 25th percentile at $600 and the 75th percentile at $1,424, indicating a range of tax burdens depending on property values and exemptions. The highest tax bills in the county can reach up to $2,208, reflecting higher-valued properties or fewer exemptions. Factors influencing the tax bill include property size, location, and any applicable exemptions or deductions. For instance, residents of Warsaw experience the highest median tax bill at $941, while those in Callao see a slightly lower median of $763. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.

Property Tax Bills Across Richmond County, Virginia

Source: Ownwell

$763

$852

$941

Median Richmond County Tax Bill

$931

Median Virginia Tax Bill

$2,608

Median United States Tax Bill

$2,400

Property Tax Bills Across Richmond County, Virginia

City	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
Callao	$334	$573	$763	$1,021	$1,387
Farnham	$347	$598	$932	$1,451	$2,377
Warsaw	$295	$606	$941	$1,424	$2,154
Haynesville	N/A	N/A	N/A	N/A	N/A
Heathsville	N/A	N/A	N/A	N/A	N/A
Henrico	N/A	N/A	N/A	N/A	N/A
Lancaster	N/A	N/A	N/A	N/A	N/A
Montross	N/A	N/A	N/A	N/A	N/A
Richmond	N/A	N/A	N/A	N/A	N/A
Sharps	N/A	N/A	N/A	N/A	N/A
Village	N/A	N/A	N/A	N/A	N/A

Source: Ownwell