Richmond City Council torn between real estate tax relief plans
RICHMOND, Va. (WRIC) -- Richmond Mayor Levar Stoney's proposed tax relief plan, dubbed "RVA Stay," is stuck in limbo… for now. Multiple Richmond City Council members made it clear during a Tuesday meeting that they want to provide tax relief to residents, it's just a question of how to do so and which leader's proposal is most feasible. Stoney's three-pronged plan includes a one-time four-cent real estate tax rebate, a gap-grant program giving up to $1,200 to those who spend more than 30% of their annual income on housing and a freeze program, which aims to protect senior citizens and the disabled from future real estate tax hikes. "If you were to cut the tax rate across the board, those who are the highest property owners… they will receive the biggest amount in tax cuts back," Mayor Stoney said. "This program, the RVA Stay program, allows us to target those who need it the most." Richmond CAO Lincoln Saunders said that -- according to his math — RVA Stay's grant program can help more than 3,000 households. However, while some have called the plan progressive, not everyone is convinced. "Please don't do this to me," Council member Reva Trammell cried out in Thursday's meeting. "Don't do this to the people." Trammell has been fighting for real estate tax relief since at least 2022. Her plan is a 4-cent tax cut. As City Council compared the options, Council member Andreas Addison offered a fresh perspective, attempting to find compromise between the competing proposals. "You come up with stuff at the last minute," said Trammell in response to Addison. Trammell said people in her district have cried to her for immediate help, and they don't want a rebate — they want cuts. "The best thing to do is adopt my paper," Trammell said. "Do the right thing. I appreciate all that you did, its great, but save it for later." Despite a lengthy discussion, city council did not come to an agreement, so both proposals advanced without recommendation, meaning the topic has been put on hold until Oct. 15.
VENN
RICHMOND, Va. (WRIC) -- Richmond Mayor Levar Stoney's proposed tax relief plan, dubbed "RVA Stay," is stuck in limbo… for now.
Multiple Richmond City Council members made it clear during a Tuesday meeting that they want to provide tax relief to residents, it's just a question of how to do so and which leader's proposal is most feasible.
Stoney's three-pronged plan includes a one-time four-cent real estate tax rebate, a gap-grant program giving up to $1,200 to those who spend more than 30% of their annual income on housing and a freeze program, which aims to protect senior citizens and the disabled from future real estate tax hikes.
"If you were to cut the tax rate across the board, those who are the highest property owners… they will receive the biggest amount in tax cuts back," Mayor Stoney said. "This program, the RVA Stay program, allows us to target those who need it the most."
Richmond CAO Lincoln Saunders said that -- according to his math — RVA Stay's grant program can help more than 3,000 households. However, while some have called the plan progressive, not everyone is convinced.
"Please don't do this to me," Council member Reva Trammell cried out in Thursday's meeting. "Don't do this to the people."
Trammell has been fighting for real estate tax relief since at least 2022. Her plan is a 4-cent tax cut.
As City Council compared the options, Council member Andreas Addison offered a fresh perspective, attempting to find compromise between the competing proposals.
"You come up with stuff at the last minute," said Trammell in response to Addison.
Trammell said people in her district have cried to her for immediate help, and they don't want a rebate — they want cuts.
"The best thing to do is adopt my paper," Trammell said. "Do the right thing. I appreciate all that you did, its great, but save it for later."
Despite a lengthy discussion, city council did not come to an agreement, so both proposals advanced without recommendation, meaning the topic has been put on hold until Oct. 15.
