Richmond, Va. (Newsradiowrva.com) - Richmond Mayor Levar Stoney, with homeowners in the city facing rising assessment, is proposing a five-cent rebate on the city's property tax rate. The one-time rebate would be the equivalent of moving the tax rate for one year from $1.20 per $100 assessed value.
Stoney says a permanent tax cut would impact services and debt capacity, so he is going the rebate route. The checks, if approved, would go to homeowners in early 2023. The idea does have City Council support.
Chesterfield did lower its tax rate three cents earlier this year, and Henrico lowered its two cents while also offering a two cent rebate.
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