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Richmond 'barrel tax' cited as a high-revenue model; board says local data needed before deciding
Summary
A member summarized Richmond’s proposed $1-per-barrel tax and a related Chevron settlement cited as $550 million over 10 years (about $55 million per year); board members said Benicia needs local business counts and payroll data to assess whether a gross‑receipts model would be appropriate.
Chad summarized Richmond’s 2024 barrel-tax proposal and a subsequent settlement with Chevron that Richmond cited in lieu of a ballot measure. The transcript cites a figure of $550,000,000 over 10 years (described as roughly $55,000,000 per year). Chad described Richmond’s approach to a percent-of-gross-sales structure (0.75%–1.395%) and noted the city's online tools made calculations straightforward for businesses.
Board members said such a gross-receipts approach could significantly increase revenue for some businesses but would require careful local modeling; staff agreed the fiscal analysis will require accurate business counts, employee numbers, and payroll data to estimate distributional impacts.
