Tax relief program for seniors, disabled homeowners would build on REAP Program
Henrico County is proposing a tax relief program that would cap the real estate tax bills of qualifying homeowners who are older or disabled, helping to mitigate the higher costs associated with rising property values.Continue reading Henrico RECAP program would lock in real estate tax bills of qualifying owners
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