07/08/2025
When it comes to (Richmond, VA) Business Personal Property Taxes:
- the assessment ratio is based on the original cost of the property
- years 2-6 decrease annually by 10%, year 1 starting at 70% of the original cost
- after year 6, the ratio remains unchanged at 20% as long as you have the asset
Once you’ve adjusted the fair market value, you pay $3.70 per $100.