Reinvest – Tax Abatement Program for Rehabilitated Structures

Availability:

  Over The Phone

  Via Mail

  In Person

Residential Reinvest

The Residential Reinvest Program is designed to protect and preserve mature and settled neighborhoods. The Program provides a 10 year tax exemption on the added assessed value of qualifying improvements to homes that are at least 26 years old and have an assessed value of $300,000 or less. Improvements must increase the base structure value by at least 20% without more than doubling the original square footage.

Commercial Reinvest

The Commercial Reinvest Program is designed to maintain Henrico County as an appealing place for existing and future businesses to invest. The Program offers a 7 or more years tax exemption on the added assessed value of approved improvements to eligible commercial properties. Properties must meet minimum age, size, and value increase requirements for each property type set by county ordinance.

How to Apply

Applications for both programs can be downloaded and must be submitted to the Henrico County Real Estate Assessment Division before or at the same time as applying for a building permit.