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Richmond City Council to vote on amended budget with no property tax increase

Posted: 3:03 PM, May 13, 2019
Updated: 2019-05-13 15:03:12-04
Richmond City Council to vote on amended budget with no property tax increase

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.