Henrico, Va. (Newsradiowrva.com) - Henrico residents can expect at least a two cent decrease in the real estate, according to County Manager John Vithoulkas. Vithoulkas also proposed a real estate tax "dividend," eqaul to two cents on the current tax rate.
Vithoulkas offered the proposals during his State of the County speech Thursday morning. He says conservative budgeting at the beginning of the Covid Pandemic has allowed for surpluses to enable the tax rate cuts and the dividend. Vithoulkas also says the rainy day fund is at nearly three times the required level.
Henrico has not had a real estate tax rate hike in over 40 years.
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