Taxes in Henrico
Virginia's graduated income tax (2%/3%/5%/5.75%, functioning as a near-flat 5.75% for most working filers) applies to Henrico residents same as anywhere in the state, layered with a real, genuine local advantage: Henrico's own real estate tax rate ($0.85 per $100 of assessed value in current 2026 sources) runs meaningfully below Richmond city's $1.20 rate.
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Learn moreVirginia's near-flat income tax -- restated as place-level context
Virginia applies graduated brackets (2% on the first $3,000, 3% on $3,001-$5,000, 5% on $5,001-$17,000, 5.75% above $17,000) that function, for the overwhelming majority of working filers, as a near-flat 5.75% tax once income clears the low $17,000 top-bracket threshold -- unchanged for decades and independently verified this session, per the statewide record (virginia.js) and richmond-va.js.
Henrico's own real estate tax rate runs meaningfully below Richmond city's
Current 2026 sources cite Henrico's real property tax rate at $0.85 per $100 of assessed value (a slightly earlier citation put it at $0.83, a real, disclosed year-over-year rate change rather than a data error) -- meaningfully below Richmond city's $1.20 per $100 rate. For a similarly assessed home, this represents a real, substantial annual savings for a Henrico property owner relative to an equivalent Richmond city property.
Henrico's combined sales tax matches Richmond's
Henrico's combined 2026 sales tax rate is 6.0%: Virginia's 4.3% state rate, plus a 1% local-option rate, plus a 0.7% regional (Central Virginia transportation) tax -- the same total rate as Richmond city, since both jurisdictions sit within the same Central Virginia sales-tax region.
No state estate or inheritance tax; Social Security fully exempt
Consistent with the statewide record, Virginia levies no state estate tax or inheritance tax, and Social Security benefits are fully exempt at any age. Retirees 65+ can claim an age deduction of up to $12,000, phased out above $50,000 (single) / $75,000 (MFJ) federal AGI. Confirm current guidance for any actual tax-planning decision.
Key takeaways
- Virginia's graduated income tax functions as a near-flat 5.75% for most working Henrico filers -- a real, structural cost independent of which part of the county a resident lives in.
- Henrico's own real estate tax rate ($0.85/$100 in current 2026 sources) runs meaningfully below Richmond city's $1.20/$100 -- a real, substantial savings for county residents versus city residents on a similarly assessed home.
- Henrico's combined sales tax rate (6.0%) matches Richmond city's, since both sit in the same Central Virginia sales-tax region.
- Virginia levies no state estate or inheritance tax, and Social Security is fully exempt at any age; the age-65 deduction phases out above $50,000/$75,000 federal AGI.
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