Henrico News Archives for Tag: Finance

Cover of the budget document with photos of government facilities.

Henrico’s proposed budget prioritizes investments in education, public safety, facilities

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The $1.4 billion plan represents an increase of 3.3% over the current year’s plan. Of those additional funds, about 83% support education and public safety. All tax rates would remain unchanged. The real estate tax rate was reduced by 2 cents last year to 83 cents per $100 of assessed value and is the lowest among the 10 largest localities in Virginia.

Henrico does not tax plastic bags. Business should not be charging a bag tax. Report erroneous tax charges: 804-501-4310. Image shows a plastic bag with a slash through the message, "bag tax."

Henrico has no bag tax: Officials are contacting stores that have erroneously charged a local tax on disposable plastic bags

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Unlike Richmond and 10 other localities, Henrico has not approved a tax on disposable plastic bags. Consumers who believe they may have been improperly charged a bag tax in Henrico are encouraged to present their receipts to the businesses and request a refund. They also are asked to report the issue to the county.
Henrico County Tax Bills Due notice with a banner added that reads, Deadline extended to Monday, Dec. 8. 501-4729 or taxhelp@henrico.gov, pay online: henrico.gov/finance.

Henrico extends tax payment deadline to Monday, with offices closed due to inclement weather

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With Henrico’s government offices closed today for inclement weather, the county has extended the deadline for tax payments that were originally due Friday, Dec. 5. The deadline, which applies to installment payments of real estate and personal property taxes for the second half of 2025, is now Monday, Dec. 8.

The extension provides taxpayers with additional time to submit payments without penalty.

Henrico earns ‘quad-AAA’ status with highest endorsement from four rating agencies

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Exemplary reviews will allow the county to secure favorable interest rates for upcoming bond sale

Henrico has long been recognized as “triple AAA,” consistently earning AAA bond ratings from three major rating agencies: S&P Global Ratings, Moody’s Investors Service and Fitch Ratings.

Proposed Budget Cover Fy25 Cropped 3

Henrico Board of Supervisors approves proposed budget for fiscal 2024-25

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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.

Taxrebate 2023

Henrico Board of Supervisors approves real estate tax credit for 2nd consecutive year

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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.

Tax Rebate Jv

Henrico proposes real estate tax credit for 2nd consecutive year

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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) 

Meghancoates

Meghan Coates named Finance director for Henrico County

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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.

Megan

Henrico revising budgets to reflect uncertainties from coronavirus

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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.

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