Population
APPENDIX "C" STATISTICAL SECTION POPULATION According to 2000 Census data, the County of Henrico is the fourth largest locality in the Commonwealth of Virginia and the largest in the Richmond-Petersburg Metropolitan Region. Henrico has experienced a steady growth in population throughout the past ten years, averaging 2.0 percent growth per annum. Population estimates after the 2000 Census continue to show Henrico County maintaining its consistent growth pattern. Source: County of Henrico 2007 Financial Trends Monitoring System
Year 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998
Population 299,443 293,382 288,735 281,069 274,847 271,440 267,024 259,179 254,194 247,832
Population 350,000 300,000 250,000 200,000 150,000 100,000 50,000 0 1998
1999
2000
2001
2002
363
2003
2004
2005
2006
2007
STATISTICAL SECTION PER CAPITA INCOME Per capita income is an important statistic in that County revenues tend to have a direct relationship with changes in this value. Furthermore, it is an accurate indicator of the County’s growing wealth. Henrico County has experienced consistent growth in per capita income from the period of 1996 to 2004, averaging 4.8 percent growth per annum. The 2005 data is the most recent information released by the Bureau of Economic Analysis. This data revealed that Per Capita Income remained relatively stable since 2004 with only a nominal decrease in 2005. The growth and stability in per capita income over this period is indicative of both a diverse economy and a dedicated local workforce. Source: County of Henrico 2007 Financial Trends Monitoring System
Year 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996
Per Capita Income $ 40,036 $ 40,246 $ 37,059 $ 35,928 $ 34,534 $ 33,286 $ 32,141 $ 31,217 $ 28,721 $ 27,579
Rate of Growth -0.01% 8.60% 3.15% 4.04% 3.75% 3.56% 2.96% 8.69% 4.14% 4.13%
Per Capita Income 10.00%
45,000 40,000
8.00%
35,000
6.00%
25,000 20,000
4.00%
15,000 10,000
2.00%
5,000 0
0.00% 1996 1997 1998 1999 2000 2001 2002 2003 2004 Per Capita Income
364
Rate of Growth
2005
% Change
Dollars
30,000
STATISTICAL SECTION UNEMPLOYMENT RATE The unemployment rate is highly indicative of changes in the economy and offers an accurate representation of the local economy. The County of Henrico has had an unemployment rate ranging from 3.7% in 2003 to a low of 1.8% in 2000. The current unemployment rate is 2.7%. Source: Virginia Employment Commission
Year 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998
Change 2.7% 2.5% 3.3% 3.4% 3.7% 3.6% 2.9% 1.8% 1.9% 2.1%
Unemployment Rate 4.0% 3.5% 3.0% 2.5% 2.0% 1.5% 1.0% 0.5% 0.0% 1998
1999
2000
2001
2002
365
2003
2004
2005
2006
2007
STATISTICAL SECTION NEW RESIDENTIAL CONSTRUCTION New residential construction is an important indicator in that steady building levels are indicative of a strong and stable economy. Between 1997 and 2007, residential construction has averaged a total of 1,821 new single family permits issued per year. Overall, new residential growth in the County of Henrico has remained relatively stable over this period of time. However, in 2007 Henrico County experienced the lowest new residential construction over the ten year period, ranging from a high of 2,183 single family units in 1999 to a low of 1,336. Source: County of Henrico Department of Building Inspections
Year 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998
New Residential Construction 1,336 1,733 1,987 1,889 2,024 1,871 1,735 1,710 2,183 1,776
New Residential Construction 2,500
Housing Units
2,000
1,500
1,000
500
0 1998
1999
2000
2001
2002
366
2003
2004
2005
2006
2007
STATISTICAL SECTION HENRICO COUNTY GOVERNMENT EMPLOYEES The County of Henrico has averaged a 13.0 General Government Employee to County population ratio over the past ten years. This statistic includes all permanent employees of Henrico County, excluding employees of the school board. Source: County of Henrico 2007 Financial Trends Monitoring System
Year 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998
Positions 3,892 3,774 3,694 3,640 3,561 3,517 3,416 3,358 3,318 3,284
Positions per 1,000 Residents 13.0 12.8 12.8 13.0 13.0 13.2 13.0 13.0 13.1 13.3
Henrico County General Government Employees Number per 1,000 Henrico Residents 12.0
Employees
3,500
10.0 8.0
3,000 6.0 4.0
2,500
2.0 2,000
0.0 1998
1999
2000
2001
2002
2003
2004
2005
Number of Henrico Positions Positions per 1,000 Residents
367
2006
2007
Positions per 1,000 Residents
14.0
4,000
STATISTICAL SECTION HENRICO BUSINESS STATISTICS HENRICO COUNTY'S PRINCIPLE TAXPAYERS
Taxpayer
Type of Property
Qimonda
Industrial
Virginia Power Company
2006 Assessed Value $
Percent of Total Assessed Valuation
959,366,000
2.60%
Utility
396,351,956
1.10%
Highwoods Realty, LP
Offices & Warehouses
290,628,100
0.80%
VAC Limited Partnership
Apartments
Short Pump Town Center, LLC
Regional Mall
Verizon
Utility
Liberty Property, LP
Office & Warehouse
216,008,600
0.60%
The Wilton Companies
Office, Retail, Warehouse
213,671,100
0.60%
United Dominion Realty Trust
Apartments
192,203,100
0.50%
Gumenick Properties
Apartments
162,726,100
0.40%
3,164,587,029
8.50%
260,377,300 241,480,600 231,774,173
Total Real Estate and Personal Property Assessed Valuation for Calendar Year 2007 was $37,449,730,650 Source: Comprehensive Annual Financial Report, 2006--07
368
0.70% 0.60% 0.60%
STATISTICAL SECTION ASSESSED VALUE OF TAXABLE PROPERTY The assessed value of taxable property is a major indicator of the stability of a local economy. The assessed valuation of taxable property in the County of Henrico has experienced steady increases, averaging a growth rate of 8.8 percent per annum since 1996. The assessed value of personal property is net of the Personal Property Tax Reimbursement Act (PPTRA). Source: Comprehensive Annual Fiscal Report, 2006-07
Personal Property 3,807,727 $ 3,721,480 3,030,117 2,792,062 2,790,989 2,859,762 2,853,452 2,749,571 2,609,580 2,411,094
Real Estate 32,787,682 $ 29,281,500 25,334,756 22,303,455 19,501,486 18,339,625 16,857,472 15,276,401 14,271,377 13,365,559
$
Public Service 854,321 $ 805,532 803,377 897,081 876,697 856,370 833,107 788,077 740,180 735,505
Total 37,449,731 33,808,512 29,168,250 25,992,598 23,169,172 22,055,757 20,544,031 18,814,049 17,621,137 16,512,158
Billions ($)
Other Taxable Property - Assessed Value 5.00 4.50 4.00 3.50 3.00 2.50 2.00 1.50 1.00 0.50 0.00 1998
1999
2000
2001
2002
2003
Personal Property
2004
2005
2006
2007
Public Service
Real Estate - Assessed Value 35 30 25 Billions ($)
Year 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998
20 15 10 5 0 1998
1999
2000
2001
2002
369
2003
2004
2005
2006
2007
STATISTICAL SECTION HENRICO COUNTY SCHOOLS Since 1997, the average daily membership in Henrico County Public Schools has increased by a total of 22.9 percent. During the same time period, the County of Henrico built ten new schools, and have several more planned to open in upcoming years. As the chart illustrates, the County of Henrico has been able to effectively keep the number of facilities in a similar growth pattern with the increasing number of students. Source: Comprehensive Annual Fiscal Report, 2006-07
Year 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998
Average Daily Membership 47,624 46,910 46,030 44,637 43,366 42,333 41,571 40,736 39,995 39,061
48,000
75
46,000 44,000
70
42,000
65
40,000 38,000
60
36,000 34,000
55
32,000 30,000
50 1998
1999
2000
2001
2002
2003
Average Daily Membership
370
2004
2005
2006
School Facilities
2007
% Change
Employees
Average Daily Membership Number of School Facilities
STATISTICAL SECTION STATE AID-GENERAL FUND This chart tracks the amount of General Fund aid received by the County of Henrico from the Commonwealth of Virginia since 1997. It should be noted that since FY1998-99, these figures include payments made by the State to Henrico for the Personal Property Tax Relief Act. Source: Comprehensive Annual Fiscal Report, 2006-07
Year 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998
State Aid
Change
325,745,512 286,448,006 263,338,403 234,079,657 219,388,084 211,727,327 204,726,861 177,030,324 155,762,136 134,298,299
13.7% 8.8% 12.5% 6.7% 3.6% 3.4% 15.6% 13.7% 16.0% 5.5%
State Aid 350
18.0% 16.0%
300
14.0% 12.0%
200
10.0%
150
8.0% 6.0%
100 4.0% 50
2.0%
0
0.0% 1998
1999
2000
2001
2002
State Aid
2003
2004
2005
Rate of Growth
371
2006
2007
% Change
Millions ($)
250
STATISTICAL SECTION OTHER DATA Over the past ten years, the County of Henrico has been able to increase services for County residents. During the same time period, Henrico County has maintained consistent tax rates and, in some cases, offered significant decreases. Year 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998
Recreation Facilities 18 18 15 15 14 14 10 10 9 9
Library Facilities 10 10 10 10 10 10 10 10 10 9
Registered Voters 175,781 175,205 171,687 177,992 165,702 166,421 163,965 160,585 154,147 151,885
Fire Stations 20 19 19 18 18 18 17 17 17 17
PROPERTY TAX RATE (PER $100 OF ASSESSED VALUE) Personal Property
Year 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998
Real Estate Aircraft 0.87 0.87 0.90 0.92 0.94 0.94 0.94 0.94 0.94 0.94 0.94
1.60 1.60 1.60 1.60 1.60 1.60 1.60 1.60 1.60 1.60 1.60
Veh. of Volunteer Rescue Squad Members
Specially Equipped Veh. for the Physically Handicapped/Disabled Veterans' Vehicles
All Other Personal Property
1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00
0.01 0.01 0.01 0.01 n/a n/a n/a n/a n/a n/a n/a
3.50 3.50 3.50 3.50 3.50 3.50 3.50 3.50 3.50 3.50 3.50
BOND RATINGS Moody's
Fitch
Poor's
General Obligation
Aaa
AAA
AAA
Utilities Revenue
Aa2
AAA
AA+
Year
Source: Department of Finance, County of Henrico
372
Machinery & Tools Machinery & SemiTools Conductor 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00
0.40 0.55 0.55 0.55 n/a n/a n/a n/a n/a n/a n/a
Year 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998
Population 299,443 293,382 288,735 281,069 274,847 271,440 267,024 259,179 254,194 247,832
Population 350,000 300,000 250,000 200,000 150,000 100,000 50,000 0 1998
1999
2000
2001
2002
363
2003
2004
2005
2006
2007
STATISTICAL SECTION PER CAPITA INCOME Per capita income is an important statistic in that County revenues tend to have a direct relationship with changes in this value. Furthermore, it is an accurate indicator of the County’s growing wealth. Henrico County has experienced consistent growth in per capita income from the period of 1996 to 2004, averaging 4.8 percent growth per annum. The 2005 data is the most recent information released by the Bureau of Economic Analysis. This data revealed that Per Capita Income remained relatively stable since 2004 with only a nominal decrease in 2005. The growth and stability in per capita income over this period is indicative of both a diverse economy and a dedicated local workforce. Source: County of Henrico 2007 Financial Trends Monitoring System
Year 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996
Per Capita Income $ 40,036 $ 40,246 $ 37,059 $ 35,928 $ 34,534 $ 33,286 $ 32,141 $ 31,217 $ 28,721 $ 27,579
Rate of Growth -0.01% 8.60% 3.15% 4.04% 3.75% 3.56% 2.96% 8.69% 4.14% 4.13%
Per Capita Income 10.00%
45,000 40,000
8.00%
35,000
6.00%
25,000 20,000
4.00%
15,000 10,000
2.00%
5,000 0
0.00% 1996 1997 1998 1999 2000 2001 2002 2003 2004 Per Capita Income
364
Rate of Growth
2005
% Change
Dollars
30,000
STATISTICAL SECTION UNEMPLOYMENT RATE The unemployment rate is highly indicative of changes in the economy and offers an accurate representation of the local economy. The County of Henrico has had an unemployment rate ranging from 3.7% in 2003 to a low of 1.8% in 2000. The current unemployment rate is 2.7%. Source: Virginia Employment Commission
Year 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998
Change 2.7% 2.5% 3.3% 3.4% 3.7% 3.6% 2.9% 1.8% 1.9% 2.1%
Unemployment Rate 4.0% 3.5% 3.0% 2.5% 2.0% 1.5% 1.0% 0.5% 0.0% 1998
1999
2000
2001
2002
365
2003
2004
2005
2006
2007
STATISTICAL SECTION NEW RESIDENTIAL CONSTRUCTION New residential construction is an important indicator in that steady building levels are indicative of a strong and stable economy. Between 1997 and 2007, residential construction has averaged a total of 1,821 new single family permits issued per year. Overall, new residential growth in the County of Henrico has remained relatively stable over this period of time. However, in 2007 Henrico County experienced the lowest new residential construction over the ten year period, ranging from a high of 2,183 single family units in 1999 to a low of 1,336. Source: County of Henrico Department of Building Inspections
Year 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998
New Residential Construction 1,336 1,733 1,987 1,889 2,024 1,871 1,735 1,710 2,183 1,776
New Residential Construction 2,500
Housing Units
2,000
1,500
1,000
500
0 1998
1999
2000
2001
2002
366
2003
2004
2005
2006
2007
STATISTICAL SECTION HENRICO COUNTY GOVERNMENT EMPLOYEES The County of Henrico has averaged a 13.0 General Government Employee to County population ratio over the past ten years. This statistic includes all permanent employees of Henrico County, excluding employees of the school board. Source: County of Henrico 2007 Financial Trends Monitoring System
Year 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998
Positions 3,892 3,774 3,694 3,640 3,561 3,517 3,416 3,358 3,318 3,284
Positions per 1,000 Residents 13.0 12.8 12.8 13.0 13.0 13.2 13.0 13.0 13.1 13.3
Henrico County General Government Employees Number per 1,000 Henrico Residents 12.0
Employees
3,500
10.0 8.0
3,000 6.0 4.0
2,500
2.0 2,000
0.0 1998
1999
2000
2001
2002
2003
2004
2005
Number of Henrico Positions Positions per 1,000 Residents
367
2006
2007
Positions per 1,000 Residents
14.0
4,000
STATISTICAL SECTION HENRICO BUSINESS STATISTICS HENRICO COUNTY'S PRINCIPLE TAXPAYERS
Taxpayer
Type of Property
Qimonda
Industrial
Virginia Power Company
2006 Assessed Value $
Percent of Total Assessed Valuation
959,366,000
2.60%
Utility
396,351,956
1.10%
Highwoods Realty, LP
Offices & Warehouses
290,628,100
0.80%
VAC Limited Partnership
Apartments
Short Pump Town Center, LLC
Regional Mall
Verizon
Utility
Liberty Property, LP
Office & Warehouse
216,008,600
0.60%
The Wilton Companies
Office, Retail, Warehouse
213,671,100
0.60%
United Dominion Realty Trust
Apartments
192,203,100
0.50%
Gumenick Properties
Apartments
162,726,100
0.40%
3,164,587,029
8.50%
260,377,300 241,480,600 231,774,173
Total Real Estate and Personal Property Assessed Valuation for Calendar Year 2007 was $37,449,730,650 Source: Comprehensive Annual Financial Report, 2006--07
368
0.70% 0.60% 0.60%
STATISTICAL SECTION ASSESSED VALUE OF TAXABLE PROPERTY The assessed value of taxable property is a major indicator of the stability of a local economy. The assessed valuation of taxable property in the County of Henrico has experienced steady increases, averaging a growth rate of 8.8 percent per annum since 1996. The assessed value of personal property is net of the Personal Property Tax Reimbursement Act (PPTRA). Source: Comprehensive Annual Fiscal Report, 2006-07
Personal Property 3,807,727 $ 3,721,480 3,030,117 2,792,062 2,790,989 2,859,762 2,853,452 2,749,571 2,609,580 2,411,094
Real Estate 32,787,682 $ 29,281,500 25,334,756 22,303,455 19,501,486 18,339,625 16,857,472 15,276,401 14,271,377 13,365,559
$
Public Service 854,321 $ 805,532 803,377 897,081 876,697 856,370 833,107 788,077 740,180 735,505
Total 37,449,731 33,808,512 29,168,250 25,992,598 23,169,172 22,055,757 20,544,031 18,814,049 17,621,137 16,512,158
Billions ($)
Other Taxable Property - Assessed Value 5.00 4.50 4.00 3.50 3.00 2.50 2.00 1.50 1.00 0.50 0.00 1998
1999
2000
2001
2002
2003
Personal Property
2004
2005
2006
2007
Public Service
Real Estate - Assessed Value 35 30 25 Billions ($)
Year 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998
20 15 10 5 0 1998
1999
2000
2001
2002
369
2003
2004
2005
2006
2007
STATISTICAL SECTION HENRICO COUNTY SCHOOLS Since 1997, the average daily membership in Henrico County Public Schools has increased by a total of 22.9 percent. During the same time period, the County of Henrico built ten new schools, and have several more planned to open in upcoming years. As the chart illustrates, the County of Henrico has been able to effectively keep the number of facilities in a similar growth pattern with the increasing number of students. Source: Comprehensive Annual Fiscal Report, 2006-07
Year 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998
Average Daily Membership 47,624 46,910 46,030 44,637 43,366 42,333 41,571 40,736 39,995 39,061
48,000
75
46,000 44,000
70
42,000
65
40,000 38,000
60
36,000 34,000
55
32,000 30,000
50 1998
1999
2000
2001
2002
2003
Average Daily Membership
370
2004
2005
2006
School Facilities
2007
% Change
Employees
Average Daily Membership Number of School Facilities
STATISTICAL SECTION STATE AID-GENERAL FUND This chart tracks the amount of General Fund aid received by the County of Henrico from the Commonwealth of Virginia since 1997. It should be noted that since FY1998-99, these figures include payments made by the State to Henrico for the Personal Property Tax Relief Act. Source: Comprehensive Annual Fiscal Report, 2006-07
Year 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998
State Aid
Change
325,745,512 286,448,006 263,338,403 234,079,657 219,388,084 211,727,327 204,726,861 177,030,324 155,762,136 134,298,299
13.7% 8.8% 12.5% 6.7% 3.6% 3.4% 15.6% 13.7% 16.0% 5.5%
State Aid 350
18.0% 16.0%
300
14.0% 12.0%
200
10.0%
150
8.0% 6.0%
100 4.0% 50
2.0%
0
0.0% 1998
1999
2000
2001
2002
State Aid
2003
2004
2005
Rate of Growth
371
2006
2007
% Change
Millions ($)
250
STATISTICAL SECTION OTHER DATA Over the past ten years, the County of Henrico has been able to increase services for County residents. During the same time period, Henrico County has maintained consistent tax rates and, in some cases, offered significant decreases. Year 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998
Recreation Facilities 18 18 15 15 14 14 10 10 9 9
Library Facilities 10 10 10 10 10 10 10 10 10 9
Registered Voters 175,781 175,205 171,687 177,992 165,702 166,421 163,965 160,585 154,147 151,885
Fire Stations 20 19 19 18 18 18 17 17 17 17
PROPERTY TAX RATE (PER $100 OF ASSESSED VALUE) Personal Property
Year 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998
Real Estate Aircraft 0.87 0.87 0.90 0.92 0.94 0.94 0.94 0.94 0.94 0.94 0.94
1.60 1.60 1.60 1.60 1.60 1.60 1.60 1.60 1.60 1.60 1.60
Veh. of Volunteer Rescue Squad Members
Specially Equipped Veh. for the Physically Handicapped/Disabled Veterans' Vehicles
All Other Personal Property
1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00
0.01 0.01 0.01 0.01 n/a n/a n/a n/a n/a n/a n/a
3.50 3.50 3.50 3.50 3.50 3.50 3.50 3.50 3.50 3.50 3.50
BOND RATINGS Moody's
Fitch
Poor's
General Obligation
Aaa
AAA
AAA
Utilities Revenue
Aa2
AAA
AA+
Year
Source: Department of Finance, County of Henrico
372
Machinery & Tools Machinery & SemiTools Conductor 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00
0.40 0.55 0.55 0.55 n/a n/a n/a n/a n/a n/a n/a
