By Michela Worthington, ABR, SRS, SRES, REALM Certified — The OwnRVA Group, brokered by Real Broker, LLC
Every county around Richmond sets its own real estate tax rate and runs its own senior relief program, and the spread is wide enough to change which 55+ community you should buy in. For 2026, Henrico County's rate is $0.83 per $100 of assessed value, Chesterfield's is $0.89, Hanover's is $0.81, James City County's is $0.83, and Goochland's is $0.53. On a $500,000 home that is roughly $4,450 a year in Chesterfield versus $2,650 in Goochland — a $150-a-month difference for identical houses, or about $18,000 over a decade of ownership. Layer on each county's tax relief program for residents 65 and older, plus Virginia's state-level retiree exemptions on Social Security and retirement income, and the gap widens further. This guide lays out the 2026 rates, the relief thresholds county by county, and the state benefits that apply no matter where you land.
What Are the 2026 Real Estate Tax Rates Around Richmond?
Real estate tax rates in the Richmond metro range from $0.53 to $0.89 per $100 of assessed value for 2026, depending on the county. Here is how the counties that contain the region's 55+ communities compare.
County | 2026 rate per $100 | Annual tax on $500,000 | 55+ communities located here |
|---|---|---|---|
Goochland | $0.53 | ~$2,650 | Mosaic at West Creek |
New Kent | ~$0.54 (2026 reassessment) | ~$2,700 | The Cottages at Viniterra |
Hanover | $0.81 | ~$4,050 | Chickahominy Falls |
Henrico | $0.83 | ~$4,150 | CrossRidge, Twin Hickory |
James City | $0.83 | ~$4,150 | Colonial Heritage |
Chesterfield | $0.89 | ~$4,450 | Charter Colony, Magnolia Green – Charleston Club, Heron Pointe at Swift Creek |
Rates are as published for 2026 by each county. New Kent's figure comes from the county's 2026 reassessment report and reflects an equalized rate subject to final Board of Supervisors adoption. Chesterfield's $0.89 was set when the Board of Supervisors adopted its fiscal year 2026 budget. Rates change annually — confirm with the county commissioner of the revenue before relying on any figure.
How Does Henrico County's Senior Tax Relief Work?
Henrico County's Real Estate Advantage Program, known as RECAP, provides real estate tax relief to qualifying residents 65 and older or permanently disabled, based on income and net worth.
Henrico runs the most generous thresholds in the region, allowing income up to $125,000 and net worth up to $750,000, with an April 1 filing deadline and consideration of first-time and hardship cases through December 31. Those ceilings are meaningfully higher than neighboring counties, which matters for buyers with pension and retirement income who would be disqualified elsewhere.
For CrossRidge and Twin Hickory buyers, this is worth modeling before you assume Henrico's $0.83 rate is your final number. Details and the current application are on the Henrico County finance site.
How Does Chesterfield County's Senior Tax Relief Work?
Chesterfield County offers real estate tax relief to homeowners who are 65 or older, or totally and permanently disabled, as of December 31 preceding the application year.
Per the county's tax relief page, qualifying requires total household income below $65,400 and assets excluding your home not exceeding $514,000. You must also own and occupy the home.
Chesterfield carries the region's highest rate at $0.89, so relief is worth the most here in absolute dollars. It also has the region's largest concentration of active adult housing — Charter Colony, Magnolia Green's Charleston Club, and Heron Pointe at Swift Creek all sit in Chesterfield — which makes this the single most-checked program among my clients.
How Does Hanover County's Senior Tax Relief Work?
Hanover County provides real estate tax relief for residents 65 and older or totally and permanently disabled, with a gross combined income limit of $60,000 and a combined net worth limit of $400,000.
Importantly, Hanover excludes the value of the home and up to ten acres of surrounding land from the net worth calculation, which is what makes the $400,000 ceiling workable for homeowners with real equity. Applications are filed annually and are due March 1. Full requirements and the current application are on Hanover County's real estate tax relief page.
Chickahominy Falls buyers fall under this program. At Hanover's $0.81 rate, a $600,000 home runs about $4,860 a year before any relief.
What About Goochland, New Kent, and James City Counties?
Goochland, New Kent, and James City counties all operate their own elderly and disabled relief programs, each with its own income and net worth limits and its own filing deadline.
Goochland is the standout on rate alone. At $0.53 per $100 for 2026 it is roughly 40 percent below Chesterfield, which is why Mosaic at West Creek buyers so often cite taxes as part of the decision. Goochland's rates and program details are published on the county's tax rates page.
New Kent's 2026 reassessment set an equalized rate near $0.54, keeping The Cottages at Viniterra in the low-tax tier alongside Goochland.
James City County, home to Colonial Heritage in Williamsburg, sits at $0.83 for 2026 — the same as Henrico. Buyers sometimes assume Colonial Heritage's lower pricing reflects a lower tax rate. It does not; it reflects distance from the Richmond core.
Because each county sets thresholds independently and adjusts them, verify current limits directly with the commissioner of the revenue for the county you are buying in. That office, not a listing agent and not a website, is the authority.
What Virginia Tax Benefits Apply Everywhere in the State?
Virginia exempts Social Security income from state income tax, offers an age deduction for older filers, and imposes neither an estate tax nor an inheritance tax — and all three apply regardless of which county you buy in.
Social Security is fully exempt from Virginia state income tax. For retirees relocating from states that tax it, this is often the largest single line of savings.
The age deduction allows qualifying filers to subtract up to $12,000. Per Virginia Tax, filers born on or before January 1, 1939 receive the full $12,000 with no income test. Filers born after that date are subject to an income-based phase-out that reduces the deduction dollar-for-dollar as adjusted federal adjusted gross income exceeds $50,000 for single filers or $75,000 for married filers. This is worth flagging because it is frequently described online — including in older versions of my own guides — as a flat $12,000 deduction at age 62. It is not; confirm your own figure with your tax professional.
No estate or inheritance tax. Virginia imposes neither, which matters for buyers doing estate planning and choosing where to establish residency.
How Much Do Taxes Really Change Your Community Decision?
Taxes should inform your decision without driving it, because the annual spread across Richmond-area counties on a typical 55+ purchase is real but smaller than the HOA and lifestyle differences between communities.
Take a $600,000 home. In Goochland at $0.53 the bill is about $3,180 a year. In Chesterfield at $0.89 it is about $5,340. That $2,160 annual difference — $180 a month — is genuine money. But the HOA spread across Richmond 55+ communities runs from roughly $200 to $500 a month, and the price spread across communities runs into the hundreds of thousands. Taxes are one input among several.
Where taxes should decide is at the margin, when two communities are otherwise close. Mosaic at West Creek versus a comparable Chesterfield community is a case where Goochland's rate is a legitimate tiebreaker. Choosing a community you like less to save $150 a month is not a trade most of my clients are happy with three years in.
Want Your Actual Numbers Run?
I model the full monthly cost — mortgage, HOA, county tax at the current rate, and any relief you qualify for — before clients tour, so nobody falls for a community that does not fit the budget. See the full market picture in my guide to the best 55+ communities in Richmond VA, understand the HOA side in what your 55+ HOA fee actually covers, and get a free valuation of your current home to see what equity you are working with.
Michela Worthington, ABR, SRS, SRES, REALM Certified The OwnRVA Group, brokered by Real Broker, LLC Phone: (804) 391-9294 Email: michela@ownrva.com
This guide is general information, not tax advice. Rates and program thresholds change annually. Confirm current figures with the county commissioner of the revenue and your tax professional before relying on them.
Frequently Asked Questions
Which Richmond-area county has the lowest property taxes?
Goochland County, at $0.53 per $100 of assessed value for 2026, is the lowest among the counties containing Richmond-area 55+ communities. New Kent is close behind at roughly $0.54. Chesterfield is the highest at $0.89.
Does Virginia tax Social Security income?
No. Virginia fully exempts Social Security benefits from state income tax. Virginia also imposes no estate tax and no inheritance tax.
How much is Virginia's retirement income deduction?
Up to $12,000. Filers born on or before January 1, 1939 receive the full amount with no income test. Filers born after that date face an income-based phase-out that reduces the deduction dollar-for-dollar once adjusted federal adjusted gross income exceeds $50,000 single or $75,000 married, per Virginia Tax.
What are the income limits for senior property tax relief near Richmond?
They vary by county. Henrico allows income up to $125,000 and net worth up to $750,000. Chesterfield requires household income under $65,400 and non-home assets under $514,000. Hanover requires gross combined income under $60,000 and net worth under $400,000 excluding the home and up to ten acres.
When are senior tax relief applications due?
Deadlines differ by county. Hanover's application is due March 1 annually. Henrico's deadline is April 1, with first-time and hardship cases considered through December 31. Confirm the current deadline with your county's commissioner of the revenue, since these dates can shift.
Do I pay less property tax in a 55+ community?
Not automatically. A 55+ community is taxed at the same county rate as any other home. What can reduce your bill is qualifying for your county's elderly and disabled relief program, which is based on age, income, and net worth rather than the type of community you live in.