Property Tax & Income in Henry County, Virginia
Henry County has an effective property tax rate of 0.47%. On the median home value of $134,800, that's roughly $637 per year. Median household income is $50,760.
What you'll pay, at a glance
Property taxes are the largest local tax most homeowners pay. The effective rate measures the real tax bill as a share of home value — a more useful number than the nominal “mill rate,” because assessment practices vary county to county.
| Metric | Henry County | Virginia (state context) |
|---|---|---|
| Effective property tax rate1 | 0.47% | 0.60% |
| Median home value1 | $134,800 | — |
| State income tax3 | top rate 5.75% | top rate 5.75% |
| State sales tax3 | 5.77% combined | 5.77% combined |
How this is calculated
The effective property tax rate is the median real-estate tax bill divided by the median home value — both for owner-occupied homes, from the U.S. Census Bureau's American Community Survey (ACS 5-year estimates)1. Median income is also from the ACS1. Federal and state income-tax figures use IRS2 and Tax Foundation3 data.
About Henry County, VA
Buying in Henry County, Virginia, costs far less than in much of the country, and the tax bill follows suit. The median home value here sits at $134,800, with an annual real-estate tax of about $637 based on an effective rate of 0.473%. That rate lands below Virginia's statewide median of 0.601% and well under the national figure of 0.794%. Among the state's 133 counties, Henry County ranks 119th by property tax rate, placing it near the lower end. Households earning the median income of $50,760 would find the yearly tax obligation quite affordable against their budget. Collinsville, the largest of the area's communities alongside Axton and Fieldale, anchors a housing market where both purchase prices and ongoing taxes stay contained. For a buyer weighing overall cost of ownership, the combination of low home values and a below-average rate keeps yearly expenses contained.