Richmond mailing checks for one-time real estate tax rebate

RICHMOND, Va. (WWBT) - The city of Richmond is mailing checks out for a one-time real estate tax rebate that was approved last year.

All checks are expected to be delivered by April 14.

The “Five Back” initiative is the equivalent of the current tax rate of $1.20 of assessed value being cut to $1.15, Stoney said on Wednesday.

The rebate is being funded by an $18 million surplus in the city’s budget.

“So a home assessed at $350,00 and a real estate tax bill of $4,200 would receive a one-time rebate of $175,” Mayor Levar Stoney said last year.

Click/tap here for more information from the Department of Finance’s website.

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