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Council asks mayor to model FY28 budgets at two tax rates to show impact on residents
Summary
Council approved a resolution requesting the mayor propose an FY28 budget that models a $1.16 real-estate tax levy and provides comparative estimates for a $1.20 levy so the council can better evaluate tax-relief options before setting the November tax rate.
The Richmond City Council adopted Resolution 20 25 R050 asking the mayor to prepare an annual FY28 budget that recommends a $1.16 per $100 assessed-value real-estate tax levy and to provide estimates of revenues and planned expenditures if the levy were $1.20.
Councilmember Lynch, who explained the measure, said the intent is to give the mayor and administration time to prepare two comparative budget scenarios so council can better judge trade-offs before setting the tax rate in November. The resolution does not set a tax rate for FY27; rather, it requests modeling and options for FY28.
No public speakers registered to speak in favor or opposition at the council public hearing on the item. Council proceeded to a recorded roll-call and adopted the resolution as stated.
