RICHMOND, Va. -- Members of the Richmond City Council are expected to hold the final vote Monday evening on the city’s 2020 budget.
Richmond Mayor Levar Stoney's administration agreed to certify $9.5 million in anticipated new revenues during a council work session last month.
The amended budget would fully fund Richmond Public Schools without increasing the city’s property tax. It would also mean that city council would not make a 1.5% cut to city departments.
Stoney's budget proposal included a real estate tax from $1.20 to $1.29 per $100 of assessed value and a 50-cent per pack tax on cigarettes purchased in Richmond.
The amended budget includes $18.5 million to fully fund the Richmond Public Schools strategic plan and $19 million in capital spending for school building maintenance.
After freeing up $3 million due to a suspension development agreement, that involves delinquent tax sales, city council allocated an $800,000 surplus revenue to GRTC.
Other notable investments in the 2020 budget are a 5 percent teacher pay raise and a 3 percent raise for city workers.