HENRY CO., Va. – Henry County homeowners are bracing for substantial tax increases as property reassessments reveal some values have skyrocketed by up to 160%, prompting concerns about affordability among residents.
The reassessments could force some residents to pay an additional $100 per month in property taxes this year, creating financial strain particularly for those on fixed incomes.
“My first reaction was: are you kidding me? It just didn’t seem reasonable,” said Lucinda DeOms, a Henry County resident who faces challenges with the increased tax burden following her home’s value rising by 88%.
“As someone who recently retired, that’s going to be a pretty big hit for me and so I have to figure out where that comes from and how I’m going to compensate for the increase in living expenses without the increase in income,” DeOms explained.
When questioned about the dramatic increases, Henry County Commissioner of Revenue Tiffany Hairston pointed to a lengthy gap between assessments and market conditions.
“It’s been so long since we had one, that’s one of the factors. It’s been six years,” Hairston said. “The one that happened in 2021, Covid was happening and a lot was going on so you really couldn’t get out like we are able to do now. It’s just the market shift. everything is just selling extremely high.”
While acknowledging the financial impact on residents, Hairston highlighted potential benefits of the increased valuations.
“You do have more equity in your home if you choose to use it. Selling is really good like I said right now. You can put your home on the market and get a lot for it,” she explained.
For residents concerned about affording the increased property taxes, assistance programs are available here.