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Richmond council debates property-tax cut as administration warns of $17M shortfall
Summary
Mayor Thor and the city’s chief administrative officer urged caution on a proposed 4-cent property-tax cut, saying it would reduce roughly $17.2–$17.3 million in revenue and jeopardize services and capital projects. Council members pressed for detailed assessment, audit and program data before changing the rate.
Mayor Thor and Richmond’s administration urged the City Council on Wednesday not to adopt a proposed reduction in the city’s property tax rate this year, saying the timing and fiscal consequences are risky.
"This is not the time for that decision," the mayor said, framing the proposed four‑cent cut as unlikely to help the city’s most vulnerable residents while creating a significant operating shortfall.
Chief Administrative Officer Mr. Donald presented the council with the administration’s fiscal analysis, telling members that "for every penny, we'll call it about $4.3 million in revenue," and that a four‑cent reduction would cut roughly $17.2–$17.3 million from…
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