Henrico real estate assessments rose by 4.5% year over year, according to new data from county

Henrico real estate assessments rose by 4.5% year over year, according to new data from county

The average value of residential land with a home in Henrico rose to $265,000 in 2018.

From the Henrico Citizen:

The average value of residential land with a home in Henrico County rose just more than 4 percent last year – from $255,000 to $265,600 – according to data from Henrico’s Division of Finance, which completed its annual property reassessments last month.

Henrico’s tax rate is 87 cents per $100 of assessed value, meaning that the average real estate tax bill for Henrico homeowners will increase by about $92.

Countywide, residential property values rose 3.5 percent, while commercial properties jumped 6.6 percent, for a combined overall assessment jump of 4.5 percent. (Last year, the combined increase was 4.7 percent.)

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