Plan retains 85-cent real estate rate, supports RECAP program, doubles BPOL exemption, advances bond projects, reinvests in education, safety, employees
UPDATE: The Board of Supervisors voted unanimously April 9 to adopt the county’s proposed budget for the 2024-25 fiscal year. The approved budget added $4.5 million to create a reserve fund for Henrico County Public Schools to expand planning periods at elementary schools and $89,500 to fund a community health worker position. It also adjusted funding for several nondepartmental agencies.
Henrico County’s proposed budget for fiscal year 2024-25 would enhance funding for education, public safety and other core priorities while expanding residential and business tax relief, advancing key capital projects and bolstering employee pay, particularly for teachers, bus drivers and other critical, hard-to-fill positions.
The Board of Supervisors on Tuesday accepted the county manager’s recommended plan, kicking off four weeks of review that will include department-by-department presentations in legislative sessions scheduled for March 18-21 and a public hearing Tuesday, March 26. As outlined, the $1.2 billion general fund budget represents an increase of 8.4%, or $97.6 million, over the current year’s plan.
Continue reading Henrico Board of Supervisors approves proposed budget for fiscal 2024-25
Henrico will return $11.2 million in surplus taxes to residential and business property owners.
Each credit will be issued in an amount equal to 2 cents per $100 of the real estate’s taxable value.
Credits of $30 or more will be paid in 95,000 checks issued in September. Amounts less than $30 will be applied directly on 16,000 bills.
Continue reading Henrico Board of Supervisors approves real estate tax credit for 2nd consecutive year
Homeowners would receive amount equal to 2 cents per $100 of home’s assessed value
For the second consecutive year, Henrico County is proposing to give the owners of residential and business properties a credit on their real estate taxes to help offset rising values.
Property owners would receive an amount equal to 2 cents per $100 of their real estate’s taxable value for 2023. For example, a single-family home with the median assessed value of $367,000 would generate a credit of $73.40. ($367,000/100 x .02=$73.40)
Continue reading Henrico proposes real estate tax credit for 2nd consecutive year
Henrico County has appointed Sheila S. Minor director of the Department of Finance, effective Saturday, Dec. 18.
Minor comes to Henrico from the city of Colonial Heights, where she has served as finance director since June 2017.
Continue reading Henrico taps Sheila Minor to lead Department of Finance
Plan would advance projects, services after this year’s ‘ultraconservative’ budget
Continue reading Henrico outlines $1.4 billion proposed budget for fiscal 2021-22
County refinances $118.7 million in bonds, issues $30 million in new bonds
Henrico County issued two sets of bonds for its water and sewer system last week after securing the highest-possible AAA ratings.
Continue reading AAA ratings affirmed for Henrico water, sewer bonds
Henrico County has appointed Meghan F. Coates director of the Department of Finance, effective Saturday, Aug. 1.
Coates joined the county staff in 2019 as deputy director of Finance and most recently served as acting director of the department. She will succeed Edward N. “Ned” Smither Jr. in the position. Smither had led the department since 2017.
Continue reading Meghan Coates named Finance director for Henrico County
Henrico County officials have begun to brace for significant financial impacts caused by the COVID-19 coronavirus pandemic.
Anticipating sharp drops in revenues from sales, meals and occupancy taxes, officials are preparing adjustments to the current year’s budget and are revising the proposed budget for fiscal 2020-21.
Continue reading Henrico revising budgets to reflect uncertainties from coronavirus
