The City of Richmond Board of Commissioners held a significant meeting on September 9, 2025, where they discussed two key ordinances that could impact the local community.

In a move aimed at easing the financial burden on residents, the Board introduced Ordinance 25-22, which proposes a reduction in property taxes. The City Manager highlighted that the real property tax rate will decrease from 12.1 cents to 11.5 cents per $100, while the personal property tax rate will drop from 15.3 cents to 13.7 cents per $100. This decision comes as Richmond experiences growth, being the second fastest-growing city in Kentucky, with taxable assets increasing by $39 million. The Board's decision to adopt a compensating tax rate reflects a commitment to support residents while managing the city's financial health.

Additionally, the Board conducted a first reading of Ordinance 25-23, which seeks to change the zoning classification of a vacant property located at the corner of Heath Street and Estill Avenue from neighborhood business to light industry. This change follows a public hearing where the Planning and Zoning Commission received input from community members both in favor and against the proposal. The Commission ultimately recommended the change, believing it aligns with the area's existing industrial character.

Both ordinances will undergo a second reading in the next regular meeting, with the potential to significantly influence Richmond's economic landscape and community development. As the city continues to grow, these decisions reflect a proactive approach to balancing development with the needs of its residents.