Richmond, VA — income, home value, property tax, and sales tax.
In ZIP code 23225, near Richmond, homes carry a median value of $313,300, and the county-level property tax rate of 0.89% works out to roughly $2,788 a year on such a home. With median household income at $62,949, that levy equals about 4.4% of annual earnings, a meaningful line item for local owners. Per-capita income stands at $42,466. Adding a 6.00% combined sales tax on purchases, housing plus consumption costs take a real bite out of paychecks, so buyers here should weigh both the mortgage and the recurring tax load.
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