Henrico eases business license taxes, broadens tax exemptions for certain homeowners

At its May 28 meeting, the Henrico Board of Supervisors approved an ordinance doubling the threshold for business license taxes to [post_excerpt] million, meaning that businesses with annual earnings of less than that amount won’t pay any license taxes and those that earn more can deduct [post_excerpt] million from their taxable earnings. The board also passed an ordinance expanding the Real Estate Cap (RECAP) program, which freezes real estate taxes for homeowners who either are 65 or older or who are permanently disabled. Homeowners in either category now may qualify with as much as 5,000 of household income as well...

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