Farnham, Richmond County, Virginia Property Taxes
Property Taxes in Farnham, Virginia
Median Farnham, Virginia effective property tax rate: 0.60%, significantly lower than the national median of 1.02%, and lower than the Virginia state median of 0.90%.
Median Farnham, Virginia home value: $191,358
Median annual Farnham, Virginia tax bill: $1,141, $1,259 lower than the national median property tax bill of $2,400.
How are property taxes in Richmond calculated?
Property taxes in Farnham, Virginia are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Farnham's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Farnham, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
Farnham, Richmond County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.6%
Estimate Property Tax Bill
$1,148
$1,065
How Does the Farnham Property Tax Calculator Work?
Use this Farnham property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Farnham's median effective tax rate of 0.60% — based on actual property records in Richmond County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local appraisal district uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Farnham's median effective rate across all local levies, providing a more accurate estimate than applying a single county millage rate.
Your bill may vary by ZIP code within Farnham: rates range from 0.60% in 22460 to 0.60% in 22460, primarily due to differences in school district levies and local assessment districts.
For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Farnham.
About Farnham Property Taxes
About Property Taxes in Farnham, Richmond, Virginia
Farnham’s median effective property tax rate of 0.60% is lower than the Virginia state median of 0.90% and lower than the national median of 1.02%. This rate reflects the Richmond County base levy combined with local school district levies and special assessment districts that vary by subdivision throughout the city.
Property tax rates are not uniform across Farnham. Homeowners in the 22460 ZIP code carry a median effective rate of 0.60%, while those in the same ZIP also pay 0.60%. This reflects how school district boundaries and local assessment districts are drawn across Richmond County. Understanding where you live in Farnham can still make a meaningful difference to your annual tax bill.
Farnham homeowners who believe their assessed value is too high can file a formal appeal with the Richmond County Tax Assessor.
If your estimated bill seems higher than expected, Ownwell can review your assessment and protest on your behalf. You only pay if we save you money.
Property Tax Rates Across Farnham, Richmond County, Virginia
As noted earlier, local government entities set tax rates, which can vary widely within a state.
Why? Because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate.
While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
Below, you can compare Farnham's effective property tax rate to other cities in Virginia and the median property tax rates in Virginia and the U.S.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Farnham Tax Rate
0.60%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Richmond County Tax Rate
0.60%
Median Effective Virginia Tax Rate
0.90%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Farnham, Richmond County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22460 | 0.60% | 0.60% | 0.60% | 0.60% | 0.60% |
Source: Ownwell
Property Tax Assessment Values Across Farnham, Richmond County, Virginia
When examining property taxes in Farnham, Virginia, understanding the distinction between "market value" and "assessed value" is crucial.
The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Richmond County assessment office estimates the market value for tax purposes.
The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
Assessment notices:
In Richmond County, assessment notices are sent in the spring each year. They'll typically reach your mailbox by the middle of the season.
Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Farnham.
For example, the median home price in Farnham is $191,358, with tax bills ranging significantly across the county. 22460 has the highest median home price at $191,358.
Property Tax Assessment Values Across Farnham, Richmond County, Virginia
Source: Ownwell
$161,835
$192,977
$224,119
Median Farnham Market Value
$191,358
Median Richmond County Market Value
$193,705
Median Virginia Market Value
$323,500
Median United States Market Value
$235,294
Property Tax Assessment Values Across Farnham, Richmond County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22460 | $61,108 | $116,906 | $191,358 | $296,496 | $475,400 |
Source: Ownwell
Property Tax Bills Across Farnham, Richmond County, Virginia
Property tax bills in Farnham are based on the assessed value of a home and the local tax rate set for Richmond County. When a property is valued, that assessment is used to calculate the amount owed each year, so homes with higher assessed values generally face larger bills. The median home price in Farnham is $191,358, which helps show the level at which local taxes are being calculated.
For many homeowners, the size of the bill can vary widely. The 25th percentile tax bill is $699, while the 75th percentile reaches $1,744 and the 90th percentile climbs to $2,797. The median tax bill in the area is $1,141, which is below the national median property tax bill of $2,400 and below the national median property tax rate of 1.02%. These bills affect monthly housing costs and can make a meaningful difference in affordability for homeowners in Farnham.
Median Farnham Tax Bill
$1,141
Median Richmond County Tax Bill
$1,145
Median Virginia Tax Bill
$2,852
Median United States Tax Bill
$2,400
Property Tax Bills Across Farnham, Richmond County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22460 | $364 | $699 | $1,141 | $1,744 | $2,797 |
Source: Ownwell