City Council to consider real estate tax rate
Jeremy M. Lazarus | 11/3/2022, 6 p.m.
The question of whether Richmond property owners will see a cut in the real estate tax rate is still up in the air.
The full City Council is scheduled to consider the issue at its next meeting, Monday, Nov. 14.
Council’s three-member Finance Committee declined to is- sue a recommendation at its Oct. 27 meeting and sent all of the proposals on the table to the governing body.
The pending proposals would keep the current property tax rate of $1.20 per $100 of assessed value that has been in place since L. Douglas Wilder was mayor in 2007; cut the rate to $1.16 per $100 of value; or reduce the rate nearly 13 cents to $1.072 per $100 of value.
