Tax Refund: Who are eligible to receive up to $175 in refunds next year



Six aldermen and Ritchmond, Virginia Mayor Levar Stoney have agreed to a five-cent rebate per $100 of assessed property for citizens.

Currently citizens pay 1.20 per $100 of property, but with the new initiative they would pay 1.15.

“Thus, a home assessed at $350,00 and with a real estate tax bill of $4,200 would receive a one-time rebate of $175,” said Mayor Levar Stoney.

The city faces a crisis due to levies going up 13 percent last year.

“At this point, permanently cutting the tax rate would affect our ability to provide basic services to our residents, to our community. It also means we would not be able to keep up with the growing maintenance needs of our roads, parks, libraries and schools,” Stoney said.

What they say

When asked why the city didn’t offer larger rebates, considering that assessments had increased 13% this year, Stoney’s managing director, Lincoln Saunders, said the city was constrained by state law, which requires tax rebates to be funded from budget surpluses.

“Growth is good, but it has its flip side, and that’s what we’re experiencing in some of our neighborhoods,” Stoney said.

Some council members had called for an across-the-board reduction in the city’s tax rate.