Why I'm Writing This
"Henrico or Chesterfield, which one has lower taxes?" I get that question almost every week, usually from families relocating in and from military buyers trying to stretch their BAH. The honest answer is that it's closer than most people think. The bigger swings are between the City and the counties, and between the suburbs and the rural counties to the west and north.
So here's every 2026 rate in one place, what it means in real dollars, and the two or three things that matter more than the rate itself.
2026 Rates at a Glance
Virginia taxes real estate per $100 of assessed value. To get your yearly bill, divide the assessment by 100 and multiply by the rate. Here's what that looks like on three common price points, lowest rate first:
| Locality | 2026 rate (per $100) | $300,000 home | $400,000 home | $500,000 home | Monthly escrow on $400K |
|---|---|---|---|---|---|
| Goochland County | $0.53 | $1,590 | $2,120 | $2,650 | about $177 |
| Powhatan County | $0.77 | $2,310 | $3,080 | $3,850 | about $257 |
| Hanover County | $0.81 | $2,430 | $3,240 | $4,050 | $270 |
| Henrico County | $0.83 | $2,490 | $3,320 | $4,150 | about $277 |
| Chesterfield County | $0.89 | $2,670 | $3,560 | $4,450 | about $297 |
| City of Richmond | $1.20 | $3,600 | $4,800 | $6,000 | $400 |
Dollar amounts assume the home is assessed at the price shown, before any relief or exemptions. Every one of these rates was held flat for 2026: Goochland, Powhatan, Hanover, Henrico, Chesterfield and the City of Richmond.
The spread is real. On the same $400,000 house, the City of Richmond bill is about $2,680 a year higher than Goochland's. That's roughly $223 a month in your mortgage payment.
Henrico vs. Chesterfield: Closer Than You Think
These two are where most of my buyers land, so let's do the math. Henrico's rate is $0.83. Chesterfield's is $0.89. That's a 6-cent gap, which works out to $60 a year for every $100,000 of value.
- On a $500,000 home: Henrico is about $300 a year cheaper. That's $25 a month.
- Car taxes flip it: Chesterfield cut its vehicle rate to $3.25 per $100 for 2026. Henrico's is $3.35. With two cars in the driveway, some of that $300 comes right back.
- Both have been trimming: Henrico cut its rate from 85 to 83 cents in 2025 and held it for 2026. Chesterfield has come down from 95 cents over the past four years.
My take: $25 a month shouldn't decide where you live. Commute, schools and the house itself matter far more. If you're stationed at Fort Lee or working in Chester, Chesterfield usually wins on drive time alone. If you're working downtown, in Innsbrook or out by the airport, Henrico often makes more sense. My Henrico guide and Chesterfield guide cover the rest.
The City of Richmond: Highest Rate, and Why
The City's rate is $1.20 per $100, the highest in the area. Richmond is an independent city, so it isn't part of any county. That $1.20 covers everything the city provides, from schools to police to trash pickup.
Council debated a cut to $1.16 last fall. It kept $1.20 for 2026. On the City's 2026 average residential assessment of $426,000, that's about $5,112 a year. The same assessment in Henrico would run about $3,536, so a little under $1,600 less.
That doesn't make the City a bad deal. You're often trading a bigger tax bill for walkability, character and a short commute. Just build the real number into your budget from day one. My City of Richmond guide walks through the neighborhoods.
Hanover, Goochland and Powhatan: The Low-Rate Trio
- Goochland ($0.53): The lowest rate around Richmond, and it's unchanged for 2026. Eastern Goochland is minutes from Short Pump. Expect bigger lots, and many homes on well and septic. Homes in the Tuckahoe Creek Service District pay an extra $0.32, so see my Goochland vs. Hanover vs. Henrico breakdown before you count on the savings.
- Powhatan ($0.77): Land and a quiet pace, with Route 288 and Route 60 tying it to Midlothian. Most homes use well water and septic.
- Hanover ($0.81): Small-town feel with fast access to I-95 and I-295. The rate has held steady for several years. Homes inside the Town of Ashland also pay a town tax on top of the county rate, so check before you compare.
Lower rates usually come with trade-offs: longer drives, fewer services, and a well and septic inspection to budget for. For a lot of families, that's a trade worth making.
The Rate Isn't the Whole Bill
Watch your assessment
A flat rate doesn't mean a flat bill. Your bill is the rate times your assessment, and assessments have been climbing. In Chesterfield, the median residential reassessment rose 4.5% for 2026. With the rate unchanged, a typical Chesterfield homeowner's bill went up about 4.5% too.
When you're buying, ask what the home is assessed at today. A home that sold well over its assessment will likely get reassessed closer to what you paid.
Don't forget the car tax
Virginia localities also tax vehicles every year as personal property. For 2026, Chesterfield is $3.25 per $100, Henrico is $3.35, Powhatan is $3.60 and the City is $3.70. Hanover and Goochland set their own rates, too. State car-tax relief takes a chunk off the first $20,000 of a personal vehicle's value, and the percentage varies by locality.
Active-duty service members who keep their legal residence in another state generally don't pay Virginia car tax on their own vehicles, thanks to the Servicemembers Civil Relief Act. Bring your LES to the Commissioner of the Revenue when you register the car.
Know when it's due
If you escrow, your lender handles this. If you don't, mark your calendar. Henrico and Chesterfield bill real estate in two halves, due June 5 and December 5. Chesterfield's second half is due Monday, December 7 this year because the 5th falls on a Saturday. Powhatan's halves are due June 5 and November 5. Check your own locality's dates, because late payments in Henrico carry a 10% penalty.
The Mailing Address Trap
This one catches people every year. Your tax rate follows the county line, not your mailing address.
- A "Richmond, VA" address can be in the City, Henrico or Chesterfield. Those are three different rates.
- Most of Short Pump is in Henrico, but the mail usually says Glen Allen. Some Glen Allen and Richmond addresses are actually in Goochland.
- A "Midlothian" address is usually in Chesterfield, but check. The county line runs closer than you'd think.
Before you write an offer, look up the property on the county's real estate site or the listing's tax record. I check this on every home I show.
For Military Buyers and Veterans
If you're rated 100% permanent and total by the VA, Virginia exempts your primary home from real estate taxes entirely. In any of these six localities, that turns the numbers above into zero. I walk through how it works and how to apply, county by county, in my 100% P&T property tax exemption guide.
Seniors and disabled veterans who don't qualify for the full exemption may still get help. Chesterfield's 2026 budget set aside $5 million to expand relief for seniors and disabled veterans. Hanover's includes $5.3 million for elderly, disabled and qualifying disabled veteran programs. Henrico runs its Real Estate Advantage Program for older and disabled homeowners.
PCSing to Fort Lee? The towns right outside the gate have their own rates. Prince George is $0.81, Dinwiddie is $0.64 and Hopewell is $1.17. My Fort Lee guide compares all six towns side by side, with commutes and 2026 BAH.
FAQ
Which county near Richmond has the lowest property tax rate?
Goochland, at $0.53 per $100 of assessed value for 2026. Powhatan ($0.77) and Hanover ($0.81) are next.
Is Henrico or Chesterfield cheaper for property taxes?
Henrico has the lower real estate rate in 2026, $0.83 vs. $0.89 per $100. On a $500,000 home that's about $300 a year. Chesterfield's vehicle tax rate is lower, $3.25 vs. $3.35, which closes some of the gap.
What is the City of Richmond property tax rate for 2026?
$1.20 per $100 of assessed value, the highest in the Richmond area. City Council kept the rate unchanged for 2026.
How do I calculate my property tax in Virginia?
Divide your assessed value by 100 and multiply by your locality's rate. A $400,000 home in Henrico is $400,000 ÷ 100 × $0.83, or $3,320 a year.
If my address says Richmond, do I pay the City's tax rate?
Not necessarily. Your rate depends on which locality the property sits in, not the mailing address. Many Richmond and Glen Allen addresses are in Henrico, Chesterfield or Goochland. Check the county's real estate records.
Do disabled veterans pay property taxes in Virginia?
Veterans rated 100% permanent and total by the VA don't pay real estate tax on their primary home, plus the land it sits on, up to the locality's acreage limit. Surviving spouses can qualify too.
Bottom Line
Taxes matter, but they're rarely the deciding factor. The gap between Henrico and Chesterfield is about $25 a month on a typical house. The gap between the City and Goochland is real money, and so are the trade-offs that come with it.
If you want the real numbers on a specific house, including the assessment, the car tax and whether you qualify for any relief, call or text me at 804-409-8581, or send me a note through my contact form. I'll run it with you.
Better call Stahl.
Sources
- Henrico County, Board of Supervisors adopts FY2026-27 budget, April 14, 2026
- Henrico County, Proposed budget offers sweeping tax relief (rate cut to $0.83, vehicle rate $3.35), Feb. 2025
- Henrico County, Real estate and personal property due dates and penalties
- Chesterfield County, Board approves personal property tax rate, adopts FY2027 budget, April 9, 2026
- Chesterfield County Treasurer, Tax due dates
- Richmond BizSense, Budgets roundup: Chesterfield, Henrico, Richmond, March 12, 2026
- VPM, Richmond City Council maintains real estate tax rate for 2026, Sept. 2025
- VPM, Hanover County FY2027 budget, Feb. 19, 2026
- VPM, Hanover residents weigh in on FY27 budget, April 3, 2026
- Hanover County, Board adopts FY27 budget, April 2026
- Goochland County, Board of Supervisors adopt 2026 tax rate, April 14, 2026
- Powhatan County, Real estate tax rate and tax rates
- Ownwell, Glen Allen, Goochland County property taxes
Rates checked October 26, 2026. Localities set rates every spring, so check before you budget. Dollar figures are estimates before relief or exemptions. I'm a REALTOR, not a tax advisor. This is general information, not tax advice. Your Commissioner of the Revenue or Assessor has the final word.