Real Estate Tax
Real estate taxes in Henrico County are lower than many areas in the northeastern United States and are very competitive with other southeast US business locations. Our real estate tax rate remained stable for 25 years and actually decreased in recent years.

Business License Tax
The Henrico business license tax rate was recently reduced across the board to further reinforce Henrico's pro business environment. Virtually all businesses must purchase a business license before commencing operation in Henrico County (the County has no Merchants' Capital Tax). In addition the county charges no tax if gross receipts are less than $100,000 per year. The specific tax rate varies depending on the nature of the business. The following kinds of businesses need licenses:

1. Retail Merchants
2. Wholesale Merchants
3. Business and Miscellaneous Services
4. Scientific Research and Development
5. Personal Services
6. Other Money Lenders
7. Professional Services
8. Contractors, Electrical Contractors, Plumbers, and Steamfitters
9. Hotels and Motels

Tangible Personal Property Taxes
Under Virginia State Law, all tangible personal property owned by individuals and companies and located in the County of Henrico on January 1 of each year are subject to tax. Non-Manufacturer - Business Personal Property Tax is levied on all furniture, fixtures, tools, signs and all equipment used in the conduct of business. Manufacturers - Machinery and Tools Tax is levied on machinery and tools used in the manufacturing, processing or reprocessing, mining, radio or television broadcasting, dairy, dry-cleaning, or laundry business.

Daily Rental Tax
Daily rental tax is levied in lieu of Business Personal Property Tax on the daily rental property of a certified short-term rental business.

Sales Tax
Retailers collect 5.0% Retail Sales tax imposed on retail consumer sales. The State portion if this levy is 4.0% and the County portion is 1.0%. No County tax, other than the Sales Tax noted above, is levied on the following: Admissions, Cigarettes, Meals, or Restaurant Sales.

Vehicle License Tax
Vehicle license decals must be purchased annually from Henrico County.

Utility Rates
Henrico County contributes to low operating costs with our very low water and sewer rates.

State Taxes
Virginia's long tradition of fiscal discipline has earned the Commonwealth a coveted AAA bond rating. Virginia's moderate corporate income tax is one of the lowest in the nation and has not been raised in nearly 30 years.