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Real Estate Cap Program (RECAP)
Henrico County announces RECAP- a new initiative to help qualifying homeowners with their real estate taxes. The Real Estate Cap Program (RECAP) is a new tool supporting Henrico’s ongoing efforts to provide real estate tax relief for taxpayers. It joins the Real Estate Advantage Program (REAP) in the county’s toolbox of measures designed to assist older residents and disabled adults with their real estate taxes.
What does RECAP do?
The RECAP program places a cap on real estate tax bills at the amount paid when a property owner enters the program. Potential increases in assessment values will not increase the tax bill in future years for participants
Who is eligible for RECAP?
- Property owners who are 65 or older, or who are permanently and totally disabled, who occupy the property as their sole dwelling; and
- Whose household taxable income does not exceed $105,000; and
- Whose net worth does not exceed $700,000, excluding the value of the dwelling.
How can I get more information about RECAP?
Call (804) 501-4263, or email [email protected].
For more information about the Real Estate Advantage Programs please visit REAP
