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Real Estate Assessments
Assessment of Real Property
The Department of Real Estate Assessments operates in accordance with the Code of Virginia Title 58.1, Taxation, and the Charter and Code of Chesterfield County. Real Estate Assessments is responsible for maintaining accurate and up-to-date records on each locally assessed property in Chesterfield County. Chesterfield reassesses real estate annually; assessment notices are mailed by Feb. 1 showing values as of Jan. 1 each year.
The Code of Virginia mandates that real estate be assessed at 100% fair market value. Assessed values are based on market activity within a given area or neighborhood and are used to establish fair market value, which is defined as the price most people would pay for the property on the open market. To determine a property's fair market value, an inspection of the property is conducted, sales information is collected and analyzed, and a sales comparison is made between properties that have sold and similar properties in the neighborhood.
Recorded deeds, plats, wills, etc., relating to the ownership of real estate filed in the Circuit Court Clerk's Office are received and processed daily.
Real Estate Records
Individual real estate records provide information including assessed value, improvements on or to the property, legal description, property address, and ownership information. For assessment data summarizations that include both county and magisterial district sections for years 2019-2024, view real estate assessment facts (PDF).
Search Real Estate Assessment Data
Appeal of Assessment
Learn more about the appeal of assessment process. The annual appeal filing deadline is March 15.
Real Estate Tax Rates
The Chesterfield County Board of Supervisors established the tax rate. The 2024 tax rate is $.90 per $100 of assessed value for both commercial and residential real estate.
Real estate taxes are calculated by multiplying the property's assessed value by the current tax rate. For example, if the tax rate is $0.90 per $100 of assessed value and the property is assessed at $100,000, multiply $100,000 by .0090, for the annual tax amount of $900.
Real Estate Tax Programs
View real estate tax programs available through Real Estate Assessments and other Chesterfield departments.
Real Estate Assessments Programs
The exempt classification applies to real estate owned and exclusively used by organizations that meet specific state mandates.
The special assessment (land use) program values land based on use value rather than market value.
Additional Chesterfield Resources
Administered by the Commissioner of the Revenue, Chesterfield offers real estate tax relief and exemptions for the elderly, disabled, veterans and surviving spouses. For tax payment options and plans, visit the Treasurer's Office.
Community Enhancement's rehabilitation tax exemption program protects and preserves Chesterfield's aging neighborhoods by allowing a partial real estate tax exemption for the rehabilitation, renovation or replacement of older residential structures, commercial and industrial properties, and historic properties.
Economic Development provides additional information regarding technology zones, which are distinct geographical areas that provide incentives designed to encourage business expansion and recruitment.
Special Assessment Districts and Community Development Authorities
In Chesterfield, there are three special assessment districts with varying supplemental real estate taxes and one community development authority which has special assessments that are levied against property owners in the district.
Special Assessment Districts
Chesterfield Towne Center-Southport Area Service District
This district was created in 2009 to finance the installation and ongoing maintenance of landscaping improvements in the medians in the general vicinity of Chesterfield Towne Center. The project was initiated and paid for by the businesses in that area via a supplemental real estate tax of $0.02.
Eastern Midlothian Turnpike Corridor Service District
Similar to the Towne Center project, the Eastern Midlothian Service District was created in 2010 to finance the installation and ongoing maintenance of landscaping improvements along Midlothian Turnpike from Stonebridge up to just past Turner Road. The project was initiated and paid for by the businesses in that area via a supplemental real estate tax of $0.03.
Powhite Parkway-Charter Colony Parkway Interchange Service District
The Powhite district was created in 2005 (amended September 2019) in order to finance the design, right-of-way acquisition and construction of a traffic interchange at the intersection of the Powhite Parkway (State Route 76) and Charter Colony Parkway (State Route 754). In order to do so, a supplemental real estate tax of $0.05 per $100 is imposed on the properties in the district.
Community Development Authorities
Lower Magnolia Green Community Development Authority
The Lower Magnolia Green CDA was created in 2007 to help finance certain transportation infrastructure improvements related to the development of a master planned community known as Magnolia Green. There is no special tax rate associated with the CDA; instead, the improvements are paid for via annual special assessments levied on the property owners in the district.
The information below provides a map of the CDA area, the specific code section establishing the CDA, background information on the assessment and the current Annual Assessment Report. Annual payment information can be accessed in the Annual Assessment Report (PDF), properties are identified by the TaxID number. TaxID information can be accessed through GIS, Real Estate Assessment Data (READ) online or a parcels' tax bill.
All other questions related to the property classification, special assessment or to request a payoff amount may be emailed to the CDA Administrator or by calling 443-539-4101, extension 4319.