HENRY COUNTY, VA – The Henry County Board of Supervisors voted on Tuesday to schedule a public hearing on a proposal for real estate tax relief and an increase to the transient occupancy tax.
The hearings to receive public input will be held during the board's October 24 meeting.
The Code of Virginia allows localities to provide tax relief for certain eligible residents, according to the county.
In order to qualify, residents must be older than the age of 65 or permanently disabled.
Additionally, the county requires that the resident not have a gross income that exceeds $17,000 or a net financial worth in excess of $50,000.
The Supervisors say they are seeking to expand the income threshold to those making $24,000.
The board is also looking to set an increase in the transient occupancy tax from two percent to five percent.
Revenues generated from the increase will be designated for tourism-specific activities at the Smith River Sports Complex.
The tax is charged on hotels, motels, boarding houses, and travel campgrounds at a rate based on the occupancy of any room or space.
The county says the tax currently generates approximately $155,000 annually.