When you are deciding where to live around Richmond, the price of the house is only part of the picture. Property tax can add thousands of dollars a year, and it changes noticeably from one locality to the next. This guide compares the 2026 real estate tax rates for the City of Richmond, Henrico County, Chesterfield County and Hanover County, with an example of what each would mean for the same home.
2026 Real Estate Tax Rates Compared
Virginia localities set their own real estate tax rates, which are stated per $100 of assessed value. To estimate your annual bill, multiply your home’s assessed value by the rate and divide by 100. The table below uses a $400,000 assessed value as an example.
| Locality | Rate per $100 | Annual tax on a $400,000 home | Source |
|---|---|---|---|
| City of Richmond | $1.20 | $4,800 | Official page |
| Henrico County | $0.83 | $3,320 | Official page |
| Chesterfield County | $0.89 | $3,560 | Official page |
| Hanover County | $0.81 | $3,240 | Official page |
Rates are those published by each locality in 2026 and can change with each budget cycle. Your actual bill depends on your home’s assessed value, which may be different from what you paid. Always check the locality’s official page before you rely on a number.
What the Differences Mean
- Hanover County has the lowest rate of the four at $0.81 per $100.
- Henrico County is close behind at $0.83 and combines suburban living with easy access to downtown.
- Chesterfield County is at $0.89, slightly higher than Henrico, and covers a large area from Chester and Bon Air to Midlothian.
- The City of Richmond has the highest rate at $1.20, which on our example home is roughly $1,500 a year more than Henrico.
A lower rate does not always mean a lower bill. Homes in sought-after areas can be assessed at higher values, and what you get for your taxes, from schools to services and neighborhood amenities, differs by locality. Use the rate as one input, along with the cost of housing and commute. Our cost of living in Richmond, cost of living in Henrico and cost of living in Midlothian guides cover the rest of the budget.
How Real Estate Tax Is Assessed and Billed
City of Richmond
Richmond bases taxes on January 1 property values and bills in two halves, due January 14 and June 14. The city charges a 10% penalty and 10% annual interest on late payments. See the City of Richmond real estate tax page for details.
Chesterfield County
Chesterfield reassesses properties every year. Assessment notices are mailed by February 1 and show values as of January 1, and the deadline to challenge an assessment is March 15. Details are on the Chesterfield real estate assessments page.
Henrico and Hanover Counties
Check the Henrico County tax rates and schedule and the Hanover County tax rates page for the current billing schedule and due dates.
Tax Relief Programs
Several localities offer relief for seniors, people with disabilities and disabled veterans, and these programs can lower a bill substantially. The City of Richmond runs the Older Adults and Persons with Disabilities (OAPD) Real Estate Tax Relief Program and a disabled veterans exemption. Henrico offers the Real Estate Advantage Program (REAP), and Chesterfield publishes its own relief and exemption information. Eligibility rules, such as age and income limits, vary, so apply through your locality. If you are thinking about downsizing, see our guide to senior downsizing in Virginia.
Other Taxes to Know About When You Move
- Vehicle (personal property) tax: Virginia localities tax cars and other vehicles, and the rate and process differ by locality. Check with the Commissioner of the Revenue after you move.
- Registering your car: our DMV checklist for new Richmond residents walks you through it.
- Moving costs: in some cases moving expenses may be deductible. See tax deductions for moving.
Choosing Between Richmond, Henrico, Chesterfield and Hanover
The rate is useful for comparing, but it should not decide the move by itself. Walk through the neighborhoods, compare schools and commutes, and run the numbers on a specific home. Our guides to Midlothian vs Henrico and Glen Allen vs Chesterfield vs Mechanicsville can help, and if you are weighing buying against renting, read renting vs buying in Richmond.
Ready to move? Our crews serve Richmond, Henrico, Chesterfield and Hanover.
Ready for a straight answer on your move? Call Cavalier Moving at (804) 404-8048 or request a free estimate. We are open 24 hours, 7 days a week.
Frequently Asked Questions
Which county near Richmond has the lowest property tax?
Of the four localities in this guide, Hanover County has the lowest 2026 real estate tax rate at $0.81 per $100 of assessed value, followed by Henrico at $0.83, Chesterfield at $0.89 and the City of Richmond at $1.20.
How do I calculate my property tax?
Multiply your home’s assessed value by the tax rate and divide by 100. For example, at $0.83 per $100, a $400,000 home would owe about $3,320 a year.
When are Richmond real estate taxes due?
The City of Richmond bills in two halves, due January 14 and June 14. Other localities have their own schedules, so check the official page for yours.
Can I appeal my property assessment?
Yes. Each locality has an appeal process. In Chesterfield, for example, the deadline to challenge an assessment is March 15.
Do property tax rates change every year?
They can. Localities set rates in their annual budgets, so check the official page for the current rate before you buy.