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Henrico homeowners now can apply for tax relief through new RECAP program

Homeowners can apply for RECAP and REAP on the same form. The Department of Finance will determine eligibility for either program. Applications are due by Monday, April 1.

Trevor Dickerson

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Henrico County is now accepting applications for its new Real Estate CAP program, which provides tax relief for qualifying older or disabled homeowners.

RECAP caps a homeowner’s real estate tax bill, helping them manage the costs associated with increased property values and assessments. A homeowner can qualify with a maximum taxable household income of $105,000 and a net worth of $700,000, excluding the value of the home.

RECAP builds on the Real Estate Advantage Program (REAP), which provides a real estate tax exemption of up to $3,200 for a homeowner with household taxable income up to $75,000 and a net worth up to $500,000, excluding the value of the home.

Homeowners can apply for RECAP and REAP on the same form. The Department of Finance will determine eligibility for either program. Applications are due by Monday, April 1.

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Trevor Dickerson is the Editor and Co-Founder of RVAHub.