RICHMOND, Va. -- Amid what’s become a more-heated debate than usual over whether to reduce Richmond’s real estate tax rate, City Council is mulling proposals that now include a 4-cent tax rebate for all property owners and more targeted tax relief for low-income and older residents.
In a press conference Monday, Mayor Levar Stoney and Council President Kristen Nye announced the proposed rebate and two new relief programs that city administrators recommend over Councilmember Reva Trammell’s calls to reduce the rate, which stands at $1.20 per $100 of assessed value.
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