Smart Savings for Henrico Businesses
Henrico makes it easier for companies to focus on what matters most—growth and innovation.
$0
Tax Imposed on Water and Sewer Service
Lowest Machinery and Tools Tax Rate
of any urban locality in Central Virginia
First $1 Million
in gross receipts exempt from BPOL tax
No Increase to Virginia’s Corporate Income Tax Rate
in over 50 years
Real Estate Tax rate of 83¢ per $100
Assessed Value
One of the Lowest Power Rates
on the East Coast
A Business Climate That Works in Your Favor
In recent years, Henrico’s Board of Supervisors has intentionally reduced tax rates on real estate, business personal property, R & D, and Aircraft, and has eliminated the local BPOL tax for thousands of businesses by exempting the first $1 million of gross receipts.
Over a Decade of Predictable Costs
In Henrico, stability isn’t just a promise – it’s policy. Since April 2013, permit fees have remained unchanged, providing businesses and developers with reliable, predictable costs that help keep projects on budget and reduce financial uncertainty.
Tap Into Lower Utility Costs
With commercial connection fees and water and sewer rates that are nearly 30% lower* than average, Henrico helps businesses save from day one. Add in responsive, business-friendly support that keeps projects moving and operations running smoothly. and you’ve got a partner invested in your success.
*Rates calculated for a commercial customer with a 4-inch water meter using 1,500 CCF or 11,220 gallons monthly
“The prices are reasonable; taxes are reasonable. So, I think Henrico County…is a great partner.”
Dr. Robert S. Call
Co-Founder and President
For more information on this topic, contact:
Andrew Larsen
Managing Director