Phone: (804) 646-7000
Online: RVA311.com
Please submit all inquiries using
the City's RVA 311 system
Address:
Department of Finance
900 E. Broad Street
Richmond, VA 23219
Real Estate Taxes
The City’s Real Estate Taxes are managed by the Department of Finance’s Real Estate Unit. Real Estate Taxes are levied and collected for each year in two billings on all real estate located in the City not exempt from taxation for each $100.00 of assessed evaluation thereof for general purposes.
The assessments that form the basis of Real Estate Taxes are not performed by the Department of Finance, but by the Office of the Assessor of Real Estate.
Are you trying to find information on the Real Estate Tax relief or exemption? Please see the following pages:
- The Department of Finance’s Older Adults and Persons with Disabilities (OAPD) Real Estate Tax Relief Program
- The Office of the Assessor of Real Estate’s Exemption for Disabled Veterans Program
Pay Real Estate Taxes Online
Click to here to pay Real Estate Taxes online
Real Estate Tax Forms
- Tax Escrow Application – Use this form to sign up for the voluntary Real Estate Tax Escrow Program
- Tax Escrow Coupon – Use this form to make voluntary real estate tax escrow payments after signing up for the Real Estate Tax Escrow Program
- Penalty and Interest Waiver Online Application Form - Use this online form to request a waiver of penalty and interest for this tax type
- Real Estate Change of Address Form – To change your mailing address please complete the Change of Address form found on the Assessor of Real Estate’s page. All real estate change of address requests must be handled through the Assessor’s Office and are not handled by the Department of Finance
Real Estate Tax Rates, Dates, Penalties, and Interest
- Rate: $1.20 per $100 of the property’s assessed value
- Dates:
- January 1 value of real estate established
- January 14 first half Real Estate Tax payment due date
- June 14 second half Real Estate Tax payment due date
- Penalty: 10 percent when not paid on or before the due date
- Interest: 10 percent annually when not paid on or before the due date
Real Estate Tax Governing Legislation*
For detailed legislative information on Real Estate Taxes, please refer to the following:
*Please note, this list may not be exhaustive of all sections of governing code
Real Estate Tax Frequently Asked Questions (FAQs)
What is considered real property?
Real property consists of land, buildings, and attachments to the land and/or buildings.
How is the Real Estate Tax assessment determined?
The Code of Virginia requires that all assessments be at 100% of the fair market value (FMV) of the property. The City Assessor determines the FMV all real property parcels.
How can I obtain the current and historic assessed value of my property?
You can go to the City Assessor's Office Richmond Parcel Mapper to obtain the assessed value of your property. Real estate assessment information is considered public information.
How is the amount of Real Estate Tax calculated based on the assessment?
The Real Estate Tax is the result of dividing the FMV of the property by $100 and multiplying that value by tax rate of $1.20.
For example:
- Property Value = $100,000
- Property Value / $100 = $1,000
- $1,000 x $1.20 (tax rate) = $1,200 real estate tax
Can I appeal my real estate assessment?
Yes. Real estate assessments may be appealed through the Real Estate Assessor’s Office. For more information, please visit the Assessor’s Office Real Estate Assessment Appeal Process webpage.
What happens if I do not receive my Real Estate Tax bill?
It is the responsibility of the property owner to obtain information regarding their tax liability and remit the payment by the tax due date. Failure to pay the tax by the tax due date may result in collection action by the City of Richmond.
What is the City’s responsibility regarding Real Estate Tax bills?
Virginia law requires the City to issue tax bills at least 14 days before the tax due date to the address of record. Additionally, we are required to advertise tax due dates at least once in a paper of general circulation 30 days before the due date.
The Department of Finance has internal targets above and beyond requirements to issue real estate tax bills at least 30 days before the due date and advertises the tax due dates in at least two local papers.
Does the City have a means for me to make monthly, or other, payment for Real Estate Taxes?
Yes. The City has a Real Estate Tax Escrow program that enables you to make periodic voluntary payments to be applied to your Real Estate Tax bill. Payment submitted in the escrow program earn interest and the total payments, plus interest, are applied to the Real Estate Tax bill. Please see the Real Estate Tax Forms section above for copies of necessary forms.
What should I do if I am unable to pay the full amount of the tax bill by the due date?
Payment arrangements are managed by the Delinquent Collections Unit. You can enter into a payment arrangement even if taxes are not past due. Please contact RVA311 at (804) 646-7000 or submit a request online to learn more about your options, including entering into a payment arrangement.
My parents, a relative or friend or mine, are unable to attend to their own affairs due to medical reasons, age, etc. What can I do to assist them in filing and paying their taxes to the City?
Yes. To protect the privacy of our taxpayers and ensure those who indicate they are representing another person are authorized to do so, we require the following documents from someone seeking to represent another regarding tax matters:
-
A Power of Attorney properly signed and witnessed authorizing you to handle the financial matters of the party you are seeking to represent; and,
-
A signed Authorized Representative document that indicates the taxpayer has authorized you to represent them in tax matters with the City of Richmond. This form can be found above in the Real Estate Tax Forms section.