Richmond
City Council / News Release
Richmond City Council adopts agency budget review legislation to set new goals for fiscal sustainability and votes to continue consideration of real estate tax rate
(Richmond,
Virginia U.S.A. 9.23.2025) – With the consideration of Ord No. 2025-207, Ord No. 2025-208, and Ord No. 2025-100, Richmond City Council, during its Formal
Meeting last night, advanced important efforts to place Richmond on a sound
financial footing and prepare for the 2027 Fiscal Year budget process.
“Last night, Council voted to continue Richmond
Real Estate Tax Rate legislation to further discuss and consider the implications
of cutting the rate or maintaining it,” says Council President Cynthia
Newbille.
Richmond Real Estate Tax Rate
Two
ordinances were presented regarding the Richmond Real Estate Tax Rate. Ord. No. 2025-207, maintained the present tax rate of $1.20
per $100.00 of assessed value. While, Ord. No. 2025-208 would have established a rate of $1.16
per $100.00 of assessed value. After further conversation Richmond City Council
decided to continue consideration of these ordinances until its Formal Meeting on
October 14, 2025 to allow for further discussion.
Richmond
City Council is required by VA Code Section 58.1-3321 to vote on establishing a proposed real
estate tax rate otherwise the tax would revert to the State mandated Rolled
Back Tax Rate. With the City of Richmond Budget based on the $1.20 tax rate, Richmond
City Council has the responsibility of maintaining the current rate or changing
it, and must consider the impact it has on the fiscal plans of the City, the
impact the rate has on property owners, and the services the City provides to
residents. Each $.01 of tax rate generates approximately $3.5 million dollars
in revenue. In Tax Year 2026 the aggregates taxable base is projected to
increase by 5.74%.
Agency Budget Review
Co-patroned
by seven Richmond City Council members, Ord. No. 2025-100 requires publication of each City of
Richmond agency’s final funding request documents (operating and capital) as
required by Section 6.03 of the Richmond City Charter, and a comparison chart
showing side-by-side instances in which the Mayor’s proposed budget deviates
(positively or negatively) from each agency’s final funding request. The goal
of this ordinance is to promote transparency with the public about budget
decisions made by the City Administration and better inform Richmond City
Council’s consideration of the Mayor’s proposed budget that is presented in
March of each year.
“This
legislation is about being good stewards of the City Budget,” said lead patron
and 5th District Councilmember Stephanie Lynch. “By making this information
available to City Council, we will be able to more fully partner with the Mayor
and the community to thoughtfully invest in the future of Richmond.”
Richmond Civilian Review Board moves forward
After
passing Res No. 2025-R020 at the September 8, 2025 Richmond City
Council Formal meeting, Council approved appointments to the Richmond Civilian Review Board. In accordance with Virginia Code § 9.1-601 and building from Richmond City Council
Ord No. 2022-261, the Richmond Civilian Review Board
will work with Richmond City Council, the Mayor, and the Chief of Police to
review, investigate, and make recommendations concerning interactions between
residents and the Richmond Police Department.
The
Richmond Civilian Review Board is a part of an ongoing commitment to
strengthening the relationship and transparency between the Richmond Police
Department and community residents. A major focus will be to share data and
open lines of communication.
Richmond Latin and Hispanic American Heritage Month Proclamation
In
a joint proclamation by Richmond City Council and the Mayor, Richmond established
September 15 – October 15 as Richmond Latin and Hispanic American Heritage
Month. This honors the important contribution that Latin and Hispanic community
members have made to Richmond’s cultural richness.
“The
Hispanic and Latin community has a rich history in Richmond,” said 9th District
Councilmember Nicole Jones, who led the proclamation effort. “Over the next
month, we celebrate their contributions toward making Richmond a vibrant and
beautiful City.”
Introduced Papers
During
the meeting twelve ordinances and resolutions were introduced. Many were
assigned to and will be reviewed by Richmond City Council Standing Committees in the coming weeks.
The
next Richmond City Council Formal Meeting will take place on Tuesday, October 14,
2025 in Richmond City Council Chambers. This change (from usually happening on
a Monday) is due to the October 13, 2025 Richmond Indigenous People’s Day
holiday.
To
learn more about the September 22, 2025, Richmond City Council Formal Meeting,
access a recording, and review any documents go to https://richmondva.legistar.com/
- E N D –
Richmond City Council - Richmond City Hall - 900 East Broad
Street, Suite 300 - Richmond, Virginia 23219 U.S.A. - rva.gov/richmond-city-council (web)
