by Dick Hall-Sizemore

Maybe Henrico County officials read my recent lament in Baconโs Rebellion concerning the significant increase in my houseโs assessed value. In any event, the county managerโs office announced this week that it was proposing to the Board of Supervisors a reduction of 2 cents in the real estate tax rate.
Now many people will be quick to point out that I and other Henrico residents will still have to pay more in taxes this year than we did last year; therefore, it is not a tax cut. And they would be right up to a point. I tend to take a different perspective: I will not have to pay as much tax as I would have if the county had kept the tax rate the same. In that sense, my taxes will have been reduced from what they would have been otherwise.
I donโt know how much the Board would need to reduce the rate in order to bring in the same amount of revenue as last year. The county is required to identify this โequalized rateโ when it schedules a public hearing on the budget later this spring.
To be fair, in the announcement on its website, the county did not claim it was providing a tax cut. It used the term โtax reliefโ and was careful in the body of the announcement to specify that it was cutting the tax rate. Of course, many residents may associate โtax reliefโ with a โtax cutโ and many may assume that a reduction in the tax rate will result in their paying less tax.
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