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To amend City Code ? 26-355, concerning the levy of tax on real estate, to establish a tax rate of $1.20 for the tax year beginning Jan. 1, 2026, pursuant to Va. Code ? 58.1-3321(b), and increasing such rate from the Rolled Back Tax Rate of $1.146 as computed in accordance with Va. Code ? 58.1-3321(a).
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THE CITY OF RICHMOND HEREBY ORDAINS:
? 1. That section 26-355 of the Code of the City of Richmond (2020) be and hereby is amended as follows:
Sec. 26-355. Levy.
There shall be levied and collected for each year on all real estate located in the City not exempt from taxation a tax of $1.20 for the tax year beginning January 1, [2025] 2026, and for each year thereafter, until otherwise provided by law or ordinance, for each $100.00 of assessed evaluation thereof for general purposes.
? 2. That the aforesaid tax rate of $1.20 is established pursuant to section 58.1-3321(b) of the Code of Virginia (1950), as amended, and represents an increase of $0.054 from the Rolled Back Tax Rate of $1.146 computed in accordance with section 58.1-3321(a) of the Code of Virginia (1950), as amended.
? 3. That the aforesaid tax rate of $1.20 shall be applied in lieu of the Rolled Back Tax Rate of $1.146.
? 4. This ordinance shall be in force and effect as of January 1, 2026.
DATE: August 25, 2025
TO: The Honorable Members of City Council
THROUGH: The Honorable Cynthia I. Newbille, Councilmember 7th District
THROUGH: RJ Warren, Council Chief of Staff
THROUGH: Will Perkins, Senior Legislative Services Manager
FROM: The Honorable Cynthia I. Newbille, Councilmember 7th District
RE: Establishing a real estate tax rate of $1.20 per $100 of Assessed Real Estate Value.
CNL - 2025 - 0039
PURPOSE: To amend and reordain City Code ? 26-355, concerning the levy of tax on real estate, to establish a tax rate of $1.20 for the tax year beginning Jan. 1, 2026, pursuant to Va. Code ? 58.1-3321(b), and increasing such rate from the Rolled Back Ta...
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