Total Tax Burden in Richmond, VA
Living in Richmond with the median household income of $49,843, your estimated total tax burden — including federal income tax, FICA, property tax, and sales tax — is approximately $15,558, an effective rate of 31.2%.
Federal Income Tax (est.)
$6,978
14.0% of income
FICA (SS + Medicare)
$3,813
7.6% of income
Property Tax
$3,720
1.20% effective rate
Sales Tax (est.)
$1,047
6.00% rate
Total Estimated Tax Burden
$15,558
Effective Rate
31.2%
Based on median income of $49,843, median home price of $310,000, and estimated taxable spending of $17,445. Actual taxes vary by individual circumstances. Use our calculators for a personalized estimate.
Tax Details for Richmond
Richmond residents face a combined local sales tax rate of 6.00%. This is a relatively low sales tax rate.
Property taxes on the median-priced home of $310,000 would cost approximately $3,720 per year, or $310/month. The effective rate of 1.20% is close to the national median.
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These estimates are based on median values. Use our Total Tax Burden Calculator for a breakdown based on your actual income, home value, and spending.
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