Henrico County property tax

Example of Henrico County Property Tax Calculation

Henrico County calculates property taxes based on the assessed value of a property. The assessed value is determined by the county's Department of Finance, which takes into account several factors, such as the property's size, location, and condition.

Once the assessed value is determined, the county applies a tax rate to calculate the property tax owed. For example, if the assessed value of a property is $200,000 and the tax rate is $1 per $100 of assessed value, the property tax owed would be $2,000.

It's worth noting that Henrico County offers some exemptions and credits that can lower a property owner's tax bill. For example, seniors and disabled individuals may be eligible for a tax exemption, while homeowners who make energy-efficient improvements to their homes may be eligible for a tax credit.

Overall, Henrico County's property tax calculation is a straightforward process that is based on the assessed value of a property and the applicable tax rate.

If you want appeal your property tax assessment - contact your local tax assessor.

Henrico County Property Tax Rates

Here is a formatted table listing the Henrico County Property Tax rates in US dollars per $100 of assessed value:

Note that these rates are subject to change and may vary depending on the specific location within Henrico County. It is recommended to consult with a local tax advisor for further information and guidance on property taxes in the area.

Who sets property tax rates in Henrico County ?

In Henrico County, property tax rates are set by the Board of Supervisors. These rates are typically assessed annually and are based on a percentage of the assessed value of the property. The Board of Supervisors is made up of elected officials who are responsible for setting the tax rates for the county. The rates are used to fund various county services, including schools, roads, and public safety. Property owners in Henrico County should expect to receive their property tax bills in the mail each year. The due date for payment of these taxes is typically in the fall, and penalties may be applied for late payments.

Homestead exemptions in Henrico County ?

To provide helpful information for homeowners in Henrico County, Virginia, this blogger has created a table that includes all county-specific Homestead exemptions and deductions. The table has been organized into columns labeled "exemption," "eligibility," "amount," and "notes."

Here is the table:

It's important to note that these exemptions and deductions are specific to Henrico County and may vary in other counties or states. Homeowners in Henrico County should review the eligibility requirements carefully and take advantage of the tax relief programs that they may qualify for. Don't forget to apply for exemptions annually to ensure maximum savings.

When is Henrico County Property Tax due ?

Henrico County Property Tax Due Date and Payment Methods

Henrico County property tax is typically due on December 5th each year. If this falls on a weekend, the due date is extended to the following business day. The tax is assessed based on the value of a person's property and is used to fund various county services and programs.

Payment for Henrico County property tax can be made in a variety of ways, including:

• Online: Payments can be made through the county's website using a credit or debit card. There is a convenience fee associated with this method.

• Mail: Payments can be mailed to the address provided on the tax bill. Checks should be made payable to "Henrico County."

• In-person: Payments can be made in person at the Henrico County Government Center or at any branch of Union Bank & Trust within the county.

It is important to note that failure to pay property taxes on time can result in penalties and interest. If a taxpayer is unable to pay the full amount by the due date, they may be eligible for a payment plan or other options by contacting the Henrico County Department of Finance.

Overall, it is recommended that taxpayers pay their Henrico County property tax on time to avoid any additional fees and to help support important county services.

If you have more questions - contact your local tax collector.

How is Henrico County Property Tax penalty calculated ?

Henrico County Property Tax Penalty Calculation

The penalty for late payment of Henrico County property tax is calculated based on the amount of taxes due and the number of days past the due date.

Calculation:

• 10% penalty on the first $100 of taxes due
• 10% penalty on the next $900 of taxes due
• 10% penalty on any amount over $1,000 of taxes due

For example, if a property owner owes $2,500 in property taxes and pays 30 days late, the penalty would be calculated as follows:

• 10% penalty on the first $100 = $10
• 10% penalty on the next $900 = $90
• 10% penalty on the remaining $1,500 = $150

Total penalty = $250

Therefore, the property owner would owe the original $2,500 in taxes plus a $250 penalty for a total of $2,750.

It is important to note that the penalty for late payment of property tax in Henrico County is non-negotiable and cannot be waived. Property owners are responsible for ensuring timely payment of their property taxes to avoid penalties and interest charges.

For more information and specific due dates for property tax payment in Henrico County, property owners can visit the county's official website or contact the Treasurer's Office.

We recommend contacting the Henrico County Tax Office or a local tax professional for the most up-to-date and accurate information.

Henrico County tax offices:

• Henrico County tax assessor
• Henrico County tax collector
• Henrico County tax commissioner
• Henrico County tax appraiser
• Henrico County tag office