Hanover County Quick Facts

Taxes

Real Property Tax Rate – 81 cents

• Lowest real property tax rate in the Richmond Region
• Not projected to increase in five-year financial plan

No BPOL or Meals Tax (outside of the Town of Ashland)

Average assessment decrease in 2010 – 3.9%

• Tax bill for $200,000 home decreased from $1620 to $1531 ($89 less)

Personal property tax rate – $3.64

Real and personal property taxes account for about 61% of General Fund revenues in 2011

County Tax Relief programs

Real Property Tax Relief for Elderly and Disabled ($1.7 million in relief granted in 2010)

• Participation in this program has increased from 350 households in 2000 to 1620 households today
• Income Maximum - $50,000
• Equal to State maximum allowed by law
• Income of relatives living in the house is also included in the income calculation.
• Exempts the first $10,000 of relative’s income (also State maximum)
• Maximum net worth of  $200,000 - includes all assets and other property owned by taxpayer
• State maximum
• Excludes the value of the residence and up to 10 acres of property upon which it sits
• No maximum placed on amount of available tax relief under this program
• About 40% pay no County property tax at all as a result of this program

Land Use program

Categories:

• Agriculture – requires a minimum of 5 acres in production/cultivation
• Horticulture – requires a minimum of 5 acres in production of fruits, nuts, berries, vegetables, nursery or floral products
• Forest – requires a minimum of 20 acres devoted to tree growth in such quantity as to constitute a forest area
• Open Space – requires a minimum of 5 acres devoted to the conservation of land, parks, golf courses or other natural resources

These values are determined annually by the State Land Evaluation and Advisory Council (SLEAC).

About 3,275 parcels and 161,980 acres are enrolled in Hanover County’s Land Use Taxation program through Jan. 2011.

Total of $5.8 million of tax relief granted by this program currently

Real Property Tax Exemptions for Certain Rehabilitated Real Estate in Historic Districts ($1,500)

Personal Property Tax Exemptions for Disabled Veterans ($10,000)