In May 2025, The Richmonder reported that Richmond was pausing its property reassessments for a year. It warned that when the cycle catches up in early 2027, owners "could see a double whammy of a tax increase because the notices will reflect two years' worth of change to their property value."
Around Willow Lawn, that warning covers some homes and not others. Which ones it covers depends on a boundary line that the mailing address on a listing won't show.
The Address Says Richmond. The County Records Say Henrico.
Start with the shopping center. Willow Lawn's own website gives its address as 1601 Willow Lawn Drive, Richmond, VA 23230. A Henrico County rezoning report places the center's 37.247-acre site, made up of two parcels, in Henrico's Brookland District. The center has a Richmond mailing address and is taxed by Henrico.
The line gets messier as you head east. Henrico's Westwood Small Area Study describes a study area bordered by the City of Richmond and West Broad Street to the south. It says the southern edge, which runs along Broad, "includes many parcels that are split by the County line with the City of Richmond." In 2024, a county report on 4911 Augusta Avenue, about 160 feet west of Staples Mill Road, described a lot split between the two localities. Most of the lot was in Henrico, with Richmond directly to the east. On the city side, the boundary follows the edge of the Westwood community along Wythe Avenue. Westwood became part of Richmond in the 1942 annexation.
So for two homes a few blocks apart, both listed as "Richmond, VA," the first question is which locality sends the tax bill. Everything else in this post follows from the answer.
A 37-Cent Gap in the Rate
The tax rate is the most visible difference. Richmond City Council voted 7–0 on May 11, 2026, to pass the FY2027 budget, which took effect July 1. As The Richmonder reported, the real estate rate stays at $1.20 per $100 of assessed value, "the same rate the city has had since 2008."
Henrico's Board of Supervisors adopted its FY2026-27 budget on April 14, 2026, without changing tax rates. The county's approved rate schedule lists real estate at $0.83 per $100. The county cut that rate by 2 cents the year before and describes it as the lowest among Virginia's 10 largest localities.
On a home assessed at $500,000, that comes to about $6,000 a year in the city and $4,150 in the county. The difference is $1,850 a year, roughly $154 a month, before any exemptions.
The rate is only half the calculation, though. A tax bill is the rate multiplied by the assessed value, and the two localities update assessed values on different schedules.
| City of Richmond | Henrico County | |
|---|---|---|
| Real estate rate, FY2027 | $1.20 per $100 | $0.83 per $100 |
| Tax on a $500,000 assessment | $6,000 a year | $4,150 a year |
| Values behind the current bill | Assessments mailed in September 2025 | Assessments effective January 1, 2026 |
| Next change in assessed value | Expected spring 2027, covering two years of change | Every year, with notices starting in February |
| Most recent value change | 5.74% average residential increase in 2025 | 1.8% residential reassessment for 2026 |
| Vehicle personal property tax | $3.70 per $100 | $3.35 per $100 for cars, trucks and motorcycles |
The City Tax Figure on a Listing Is Older Than It Looks
Richmond residents got their last new assessments in early September 2025. The Richmonder noted that those values "will serve as the basis for property taxes both this year and next," and its analysis found the average residential assessment citywide rose 5.74% that year. The city then skipped its 2026 reassessment to line up its assessment calendar with its budget calendar. The goal is to budget from actual assessment figures instead of revenue estimates.
For a buyer this fall, that means the tax figure on a city listing rests on values set more than a year ago. The figure is accurate for now. Its next update is expected in the spring of 2027 and could carry two years of value change at once.
City Hall has signaled it may soften that increase. According to The Richmonder, Chief Administrative Officer Odie Donald II told Council at an April 6 budget meeting, "I think the mayor is committed to some type of reduction." The outlet reported that one or two cents per $100 was under discussion. That would be the first rate cut since 2008, but it hasn't been adopted. The same article noted that a small rate cut "wouldn't necessarily translate to a tax cut for all homeowners."
Here's how those two pressures compare on a $500,000 city assessment:
- Each cent off the rate saves $50 a year. A two-cent cut, the top of the floated range, saves $100.
- Each 1% increase in assessed value adds $60 a year at the current $1.20 rate.
- So an assessment increase of just under 2% would offset the full two-cent cut. The 2025 citywide average residential increase alone was 5.74%.
None of this forecasts what any one home's 2027 assessment will be. It shows why the city tax figure on a listing reflects a moment in time, and why it may not hold for long after closing.
Henrico's Figure Resets Every Winter
On the county side, the tax figure updates every year. Henrico reassesses real estate annually with values effective January 1, and its Real Estate Assessment Division mails notices starting in February. For 2026, the county's FY27 Budget in Brief reports that residential reassessments rose 1.8%. The total assessment base, which includes new construction, rose 3.4%. When Henrico released its proposed budget in March 2026, the county said it was "bracing for a cooling real estate market."
So a Henrico home near Willow Lawn that closes this fall carries a bill based on January 2026 values, and the next notice arrives within a few months. Any changes come in small yearly steps. A Richmond home a few blocks away carries a bill based on 2025 values, with any accumulated change landing at once in 2027. The rate gap from the table is real, but it's measured at two different points on two different schedules.
The Monthly Bills Follow the Same Line
Jurisdiction affects more than the annual tax bill. Richmond's vehicle personal property rate is $3.70 per $100 of assessed value, and Henrico's is $3.35 for cars, trucks and motorcycles.
Utilities split along the same line. Richmond runs its own water, wastewater and gas utilities. Its rate notice for July 1, 2026 projects an average increase of $13.84 a month: $3.97 for gas, $3.04 for water, $5.61 for wastewater and $1.22 for stormwater. The city's posted residential rates show monthly base charges of $18.90 for water and $24.56 for wastewater on a 5/8-inch meter. Henrico bills every two months. Its 2026-2027 schedule lists service charges of $20.95 for water and $42.30 for sewer on a 5/8- or 3/4-inch meter, with volume rates of $4.82 and $5.10 per Ccf. The two water systems also overlap, because Richmond supplies Henrico through wholesale contracts.
Trash pickup is the last line item. According to NBC12, Henrico's county refuse service costs $18 a month, billed every two months, and the county is expanding it to areas it doesn't serve yet. Whether a particular county address has that service available is worth confirming with Henrico.
Checking a Specific Address
Since the mailing address won't settle it, check the parcel itself. Each locality has a free lookup:
- City of Richmond Parcel Mapper: cor.maps.arcgis.com. The city notes that its address search returns no results outside city limits, so no result is a useful answer in itself.
- Richmond Assessor's Property Search: actdatascout.com/RealProperty/Virginia/Richmond, linked from the Assessor's page.
- Henrico real estate search: realestate.henrico.gov, searchable by street number and name, GPIN or PID.
- Henrico GIS Map Viewer: portal.henrico.gov/PublicGISViewer, which shows tax parcel boundaries. That's useful along Broad Street, where some parcels are split.
The assessed value, the year that value was set and the locality that taxes the parcel are the three facts that determine what owning the home will actually cost. This post is general information, not tax, legal or financial advice. Confirm the details for your own situation with the appropriate professional and the locality's assessor.
FAQ
Does a 23230 ZIP code mean a home is in the City of Richmond? No. Willow Lawn shopping center uses a Richmond, VA 23230 address, and Henrico County records place it in Henrico's Brookland District. Check the parcel records to confirm which locality taxes a home.
Will Richmond lower its tax rate in 2027? It hasn't been decided. The city's chief administrative officer floated a cut of one or two cents in April 2026, but the adopted FY2027 rate stayed at $1.20.
If I buy a Richmond home this fall, when will I see a new assessment? The Richmonder has reported that the city's next reassessment is expected in spring 2027, and that it could reflect two years of value change.
If you're comparing two homes near Willow Lawn on opposite sides of the city line, Option 1 Realty can pull each home's assessment, the year that value was set and the current rate, so you can compare the full carrying cost before you make an offer. Start Saving Today and get your free market analysis.
