If you live or do business in Richmond, Virginia, taxes you can expect to see include a real estate tax of $1.20 per $100 of assessed value, a vehicle personal property tax of $3.70 per $100, a 6% sales tax on most purchases, a 7.5% meals tax on restaurant food, an 8% lodging tax, a 7% admissions tax, and, for businesses, a license tax tied to gross receipts. Each has its own filing schedule, exemptions, and penalty if you pay late.
Real Estate Tax
Every parcel and building inside city limits is taxed at $1.20 per $100 of assessed value.1City of Richmond. Real Estate Taxes The City Assessor sets a fair market value each year based on comparable sales, and Virginia law requires that value to represent 100% of what the property would sell for. A home that would list for $350,000 is taxed on roughly that figure.
Bills are split into two installments. The first half is due January 14 and the second half is due June 14.1City of Richmond. Real Estate Taxes Late payments carry a 10% penalty plus 10% annual interest on the delinquent balance.
Reassessment notices go out around September 1. If your new value looks too high, start with an informal call to the Assessor’s office. If that doesn’t fix it, file an application with the Board of Equalization by December 1; the Board begins hearings in January and can lower an assessment when the evidence supports it.2City of Richmond. Real Estate Assessment Appeal Process
Relief for Older and Disabled Homeowners
Richmond offers a tiered exemption for homeowners who are at least 65 or who are 100% permanently and totally disabled. Combined household gross income, including Social Security, must be $70,000 or less for the prior year. Income from relatives living in the home counts, but the first $10,000 of each relative’s earnings is excluded.3City of Richmond. OAPD Relief The exemption scales with income:
- $0 to $30,000: 100% exemption
- $30,001 to $40,000: 75% exemption
- $40,001 to $50,000: 50% exemption
- $50,001 to $70,000: 25% exemption
A separate freeze program is available to homeowners 65 and older with household income up to $125,000 and total financial worth up to $750,000. The freeze locks your assessment in place so rising values no longer push up your bill.3City of Richmond. OAPD Relief
Disabled Veteran Exemption
Veterans rated by the U.S. Department of Veterans Affairs as 100% service-connected, permanent, and totally disabled are fully exempt from real estate tax on their principal residence. The exemption also covers property held jointly with a spouse. Apply through the City Assessor using the Disabled Veteran Real Estate Tax Exemption Application.4City of Richmond. Application for Exemption from Real Estate Taxation
Vehicle Personal Property Tax
Passenger cars, motorcycles, boats, trailers, and trucks under 10,000 pounds are taxed at $3.70 per $100 of assessed value. Richmond uses the NADA (J.D. Power) clean trade-in value as of January 1, so your taxable value drops as the vehicle ages.5City of Richmond. Vehicle Personal Property Taxes The bill is due annually on June 5.
The Personal Property Tax Relief Act reduces what most individuals actually pay. Qualifying personal-use vehicles assessed at $1,000 or less are fully exempt. Vehicles assessed above that get a partial exemption on the first $20,000 of value, with City Council setting the relief percentage each year.6City of Richmond. Assistance – Section: Personal Property Tax Relief Frequently Asked Questions You don’t apply; the credit appears on your bill automatically.
Sales and Use Tax
Most purchases carry a combined 6% sales tax, broken into a 4.3% Virginia state tax, a 0.7% state transportation tax, and a 1.0% City of Richmond local tax. Groceries and certain personal hygiene products are taxed at a reduced 1.0% rate.7City of Richmond. Sales Tax If you buy something out of state or online without paying sales tax, Virginia’s use tax applies at the same 6% rate.
Meals, Lodging, and Admissions
Food and beverages from any food establishment, dine-in or takeout, are taxed at 7.5% on top of the regular 6% sales tax, bringing the effective rate on a restaurant check to 13.5%. Restaurants, caterers, and food trucks all collect it.8City of Richmond. Meals Tax
Hotels, short-term rentals, and other lodging owe an 8% transient occupancy tax on the total room charge. Platforms like Airbnb and Vrbo are included, so a host renting out a room is responsible for collecting and remitting it.9City of Richmond. Transient Occupancy Tax
A 7% admissions tax applies to tickets of $0.50 or more at concerts, theaters, sporting events, carnivals, and similar attractions. Museums, botanical gardens, and zoos are exempt.10Municode. Richmond Code of Ordinances – Article VII Admission Taxes
Business License (BPOL) Tax
Any business operating in Richmond needs a Business, Professional, and Occupational License, and the license carries a tax tied to gross receipts rather than profit. A business that loses money for the year still owes it. Rates depend on classification:
- Professional services: $0.58 per $100 of gross receipts
- Repair, personal, and business services: $0.36 per $100
- Retail sales: $0.20 per $100
- Contracting: $0.16 per $100
The tax doesn’t apply at the first dollar. Businesses with gross receipts of $5,000 or less register but owe no fee. Those between $5,001 and $250,000 pay a $30 flat fee. The percentage rates kick in only once gross receipts pass $250,000.11City of Richmond. Business, Professional, and Occupational License (BPOL) Tax Late filing or payment triggers a penalty of 10% of the tax due or $10, whichever is greater.
Businesses also owe tangible personal property tax at $3.70 per $100 on furniture, fixtures, and computer equipment, valued using original cost and a depreciation schedule.12City of Richmond. Business Tangible Personal Property (BTPP) Tax
Deadlines and How to Pay
Every major Richmond tax carries a 10% penalty for late payment, so the calendar matters:
- Real estate tax: January 14 and June 14
- Vehicle personal property tax: June 5
- Meals, lodging, and admissions taxes: collected by the business and remitted monthly
- BPOL tax: filed and paid annually based on the prior year’s gross receipts
Payments go through the city’s online portal, by mail to the Department of Finance, or in person at City Hall and the East District Center by check or money order. The online portal is the fastest option and gives immediate confirmation. If you mail close to a deadline, the postmark controls, but paying electronically removes the question entirely.