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Henrico Country Assessments Keep Rising

According to an article from Feb. 6th in the Henrico Citizen, Henrico County home owners should prepare for an increase when they receive their next tax assessment in the coming week(s). Henrico County’s Division of Finance has completed its annual property reassessments and the average value increased by more 4% in 2018. The average value of residential land with a home in Henrico County went from $255,000 to $265,600. New assessments were sent out on February 4th, so you can start checking your mailbox. This increase doesn’t come as much of a surprise given the frenetic pace of residential real estate sales over the last two years. Over the last few years, homes in Henrico County seemed to fly off the market and the final sales price was usually 10-20% more than tax assessed value.