HENRICO COUNTY, Va. (WRIC) — Henrico County will be giving a tax credit to owners of residential and business properties — for the second year in a row — in an effort to help offset rising values.
The tax relief will provide an estimated $11.2 million in surplus real estate taxes collected last year back to property owners in the county, according to Henrico. Returning these funds will not impact funding for any county services or departments.
A spokesperson for Henrico said the county will give taxpayers credit equal to two cents per $100 of taxable value if the credit is $30 or more. Credits less than $30 will be applied to real estate tax accounts.
Henrico County said checks will be distributed to property owners in September of this year. Credits will be applied to accounts prior to the second installment of bills distributed in October.
Property owners who owe taxes to the county will have the credit applied to their outstanding balance.
If taxpayers have additional questions, Henrico says to call 804-501-4729 and select option 1.