Richmond
City Council / News Release
2026 Richmond Proposed Real Estate Reassessment Values prepared
September 2025: Notice to be
sent to Richmond property owners with anticipated change in value assessments
for next year
(Richmond, Virginia U.S.A. 8.28.2025) – The Richmond City Council Office of Assessor of Real Estate has prepared its 2026 Richmond Proposed Real Estate Reassessment Values for next year. Proposed values reflect anticipated (draft) changes in assessments of real estate located within Richmond for the next year. The proposed changes are not final. Updates, per state law, are based on market value of real estate parcels to establish worth.
During the first part of September, Richmond real estate owners, whose proposed reassessed value reflects a change (higher or lower) from the previous year, are mailed a Richmond Real Estate Proposed Notice of General Reassessment Letter from the Richmond Office of Assessor of Real Estate to inform them about the anticipated change. Notices are sent to real estate owner’s last known address.
If an owner disagrees with a proposed reassessed real estate value, they can appeal and ask for it to be re-evaluated by completing and submitting a Richmond Proposed Real Estate Reassessment Value - Office Review Application Form to the Richmond Office of Assessor of Real Estate, by September 30, 2025. The Form will be available from the Richmond Office of Assessor of Real Estate, at: Richmond City Hall, 900 E. Broad Street, Room. 802, Richmond, Virginia 23219 and/or online, at https://www.rva.gov/assessor-real-estate/forms.
Richmond Real Estate Values will undergo final reviews for accuracy and any revisions and/or updates will be made by December 31, 2025. New Richmond Real Estate Value Assessments are established January 1 of each year.
All Richmond real estate owners are invited and encouraged to review their property’s current assessed value, at: https://www.actdatascout.com/RealProperty/Virginia/Richmond
Anticipated Richmond Proposed Real Estate Reassessment Values changes/ updates only apply to the value of real estate parcels located within the city boundaries of Richmond, Virginia. Richmond Real Estate Values do not include real estate located in surrounding towns, cities, or counties.
Richmond Real Estate Assessments (Overview)
· Virginia residents have limited options to fund the local government services they need, use, and count on every day.
· One
of the most common funding sources the Virginia Constitution permits is that
local real estate be taxed, using procedures provided by the Virginia Code of
Laws.
· To help ensure fairness, Virginia Law requires localities to assess/reassess (evaluate and calculate) the market value of each real estate parcel within its boundaries to establish its worth.
· Ensuring assessment/reassessment reflects any increases or decreases in value from year to year, which include shifting market conditions, corrections, new construction, improvements, and demolitions.
· Richmond Real Estate includes land and permanent structures (like a home or building, or improvements).
Richmond City Council Office of
Assessor of Real Estate
·
The
Richmond City Council Office of Assessor of Real Estate oversees the
- reassessment of Richmond real estate,
- real estate tax exemption process, and
- management and maintenance of the Richmond Real Estate
Database.
·
The
Richmond Office of Assessor of Real Estate follows state and local law and,
using defined national standards, carefully and equitably assesses/ reassesses
(evaluates and calculates) the market value of real estate in Richmond.
Richmond Real Estate Tax Bills
·
The Richmond Office of Assessor of Real
Estate does not set Richmond Real Estate Tax Rates or send
Richmond Real Estate Tax Bills.
· The Richmond Department of Finance manages Richmond Real Estate Tax Bills and can be contacted directly regarding billing questions, at 804.646.5700 (tel) and/or finance@rva.gov (email).
Richmond Real Estate Tax Rate
· Each year, Richmond City Council establishes a Richmond Real Estate Tax Rate, typically in the fall, for the upcoming calendar year (January 1 to December 31).
· The current Richmond Real Estate Tax Rate, established by Richmond City Council on November 12, 2024, is $1.20 per $100 of assessed value, which maintains the lowest rate for more than 40 years. The rate for next year will likely be established by Richmond City Council in the fall of this year.
CONTACT For information regarding real estate
assessments, please contact: Richmond
Office of Assessor of Real Estate, at 804.646.7500 (tel); or asktheassessor@rva.gov (email)
- E N D –
Richmond City Council - Richmond City Hall - 900 East Broad
Street, Suite 300 - Richmond, Virginia 23219 U.S.A. - rva.gov/richmond-city-council (web)
