Posted by Steve Taggart
RICHMOND, VA (WWBT) - Richmond City Council voted against a real estate tax hike for the next year. The rate currently sits at a $1.20 for every 100 dollars of assessed value.
There were several proposals on the table; everything from raising the rate by 3 cents and another to drop it a penny.
Richmond homeowners may see a drop in their property tax this year because the majority of real estate tax assessments in Richmond this year dropped.
The budget season continues this week for Henrico and Chesterfield.
Henrico County will hold its first public hearing on the budget at 6pm Tuesday night. No tax hike is proposed there.
Same for Chesterfield where supervisors are expected to vote on their budget Wednesday at 6:30.