Taxes in Richmond, Virginia
Complete tax guide for Richmond, VA. State income tax up to 5.75%, 1.15% property tax, 5.3% sales tax. Calculate your total tax burden.
State Income Tax
5.75%
Virginia
Property Tax
1.15%
Effective rate
Sales Tax
5.3%
Combined rate
Tax Burden
Moderate
Richmond, VA Tax Overview
State capital; growing food and beer scene
Population
226,610
Median Income
$50,212
Cost of Living
101.3 (100 = avg)
State Income Tax
5.75%
Median Home Price
$295,000
Richmond Tax Calculator
Pre-filled with Richmond median: $50,212
Total Tax Burden in Richmond
$10,715
Take-Home: $39,497 · Effective Rate: 21.34%
Federal Tax
$3,987
7.94% eff.
VA State
$2,887
5.75% eff.
FICA
$3,841
7.65% eff.
Take-Home
$39,497
78.66% kept
Tax Breakdown
| Item | Annual | Monthly |
|---|---|---|
| Gross Income | $50,212.00 | $4,184.33 |
| Federal Income Tax | -$3,986.94 | -$332.25 |
| Virginia State Tax | -$2,887.19 | -$240.60 |
| Social Security (6.2%) | -$3,113.14 | -$259.43 |
| Medicare (1.45%) | -$728.07 | -$60.67 |
| Take-Home Pay | $39,496.65 | $3,291.39 |
Property Tax in Richmond
Median Home
$295,000
Annual Tax
$3,393
Monthly Tax
$283
Effective Rate
1.15%
Sales Tax in Richmond
Combined Rate
5.3%
State Portion
~2.8%
Local Portion
~2.5%
The combined sales tax rate in Richmond is 5.3%, which is below the national average of 7.12%. On a $100 purchase, you would pay $5.30 in sales tax.
Tax Burden Comparison
| Tax Type | Richmond | Virginia Avg | National Avg |
|---|---|---|---|
| Income Tax | 5.75% | 5.75% | 4.6% |
| Property Tax | 1.15% | ~1.15% | 1.1% |
| Sales Tax | 5.3% | ~5.3% | 7.12% |
| Overall Burden | Moderate | — | Moderate |
About Taxes in Richmond
Richmond has a population of approximately 226,610 residents with a median household income of $50,212. The cost of living index is 101.3 (1.3% higher than the national average of 100).
Local context: State capital; growing food and beer scene
Tax burden classification: Moderate. Effective combined tax rate of 29.1% includes federal, state, FICA, property, and sales taxes for a typical Richmond household.
Official Tax Resources for Virginia
For authoritative Virginia tax forms, filing deadlines, and the latest legislative updates, consult these official government resources:
- Virginia Department of Taxation — official state revenue agency
- Virginia Individual Income Tax Forms — current tax year forms and instructions
- IRS Federal Tax Forms and Instructions — federal income tax filing
Tax Saving Tips for Richmond Residents
- Virginia's income tax rate of 5.75% is above average. Maximize pre-tax retirement contributions (401k up to $23,500, IRA up to $7,000) to reduce both federal and state taxable income.
- Property tax in Richmond (1.15%) is above the national average. Check if you qualify for homestead exemptions or assessment appeals to reduce your property tax bill.
- Use a Health Savings Account (HSA) if eligible. Contributions are tax-deductible ($4,400 individual, $8,750 family), growth is tax-free, and withdrawals for medical expenses are tax-free.
Other Cities in Virginia
Virginia Beach
ModerateChesapeake
ModerateArlington
Very HighNorfolk
LowNewport News
LowAlexandria
Very HighHampton
LowRoanoke
LowSuffolk
ModerateLynchburg
Very LowCharlottesville
ModerateSources & Methodology
Tax rate data on this page is compiled from official government sources and updated for the 2026 tax year. Calculations follow the IRS-published 2026 federal tax brackets, FICA rates (6.2% Social Security up to $176,100 wage base, 1.45% Medicare), and Virginia state tax provisions. Property tax estimates use Richmond's median home value of $295,000and the local effective property tax rate of 1.15%.
- • Federal tax brackets and standard deductions: IRS.gov
- • State income tax rates and brackets: Virginia Department of Taxation
- • Median household income, home value, and demographics: U.S. Census Bureau ACS
- • Cost of living comparisons: U.S. Bureau of Labor Statistics CES
- • National average benchmarks: Tax Foundation state-level tax burden studies
Disclaimer: Estimates are for informational purposes only. Actual tax liability depends on filing status, deductions, credits, and individual circumstances. Consult a licensed tax professional or your state revenue agency for binding tax guidance.
Reviewed by LevyIO Tax Research Team · Published 2026-01-15 · Last updated 2026-04-30
Calculate Your Full Virginia Tax Burden
See detailed state tax brackets, FICA breakdown, and compare to neighboring states.
Frequently Asked Questions
What are the tax rates in Richmond, VA?
Richmond, Virginia has a state income tax rate up to 5.75%. The property tax rate is 1.15% and the combined sales tax rate is 5.3%. State capital; growing food and beer scene
How much is property tax in Richmond?
The effective property tax rate in Richmond is 1.15%. On the median home price of $295,000, this equals approximately $3,393 per year or $283 per month. This is above the national average of 1.1%.
What is the sales tax rate in Richmond?
The combined sales tax rate in Richmond is 5.3%, which includes both state and local components. This is below the national average combined rate of approximately 7.12%.
How does Richmond's tax burden compare to other cities?
Richmond has a moderate overall tax burden. The effective total tax rate for a median-income household is approximately 29.1%. The combination of 5.75% state income tax, 1.15% property tax, and 5.3% sales tax determines the total burden. Cost of living index is 101.3 (100 = national average).
Are there any local taxes in Richmond?
Richmond does not impose a separate local or city income tax. Residents pay the state income tax of 5.75%, federal income tax, and FICA (Social Security and Medicare). State capital; growing food and beer scene