Henrico RECAP program would lock in real estate tax bills of qualifying owners
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.
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Henrico proposes 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