Henrico County Supervisors Explain, Endorse Plan to Provide Real Estate Tax Credit

At their meeting on Jan. 25, 2022, members of the Henrico County Board of Supervisors discussed their support for a proposal that would provide property owners with a one-time real estate tax credit.

Homeowners and other property owners would receive an amount equal to 2 cents per $100 of their real estate’s taxable value for 2022. For example, a home with the average assessed value of $322,200 would generate a credit of $64.44. The Board of Supervisors will hold a public hearing Feb. 22. If the credit is approved, Henrico would be the first locality in Virginia to return surplus real estate taxes to property owners under a 2005 state law.

Details: https://henrico.us/news/2022/01/henrico-introduces-ordinance-to-offer-first-ever-real-estate-tax-credit/.


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