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File #: ORD. 2022-278    Version: 1 Name:
Type: Ordinance Status: Rejected
File created: 9/26/2022 In control: City Council
On agenda: 11/14/2022 Final action: 11/14/2022
Title: To amend and reordain City Code ? 26-355, concerning the levy of tax on real estate, to establish a tax rate of $1.10 for the tax year beginning Jan. 1, 2023, pursuant to Va. Code ? 58.1-3321(b), and increasing such rate from the Rolled Back Tax Rate of $1.072 as computed in accordance with Va. Code ? 58.1-3321(a).
Patrons: Reva Trammell
Attachments: 1. Ord. No. 2022-278

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To amend and reordain City Code § 26-355, concerning the levy of tax on real estate, to establish a tax rate of $1.10 for the tax year beginning Jan. 1, 2023, pursuant to Va. Code § 58.1-3321(b), and increasing such rate from the Rolled Back Tax Rate of $1.072 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 and reordained 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] $1.10 for the tax year beginning January 1, [2022] 2023, 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 $1.10 is established pursuant to section 58.1-3321(b) of the Code of Virginia (1950), as amended, and represents an increase of $0.028 from the Rolled Back Tax Rate of $1.072 computed in accordance with section 58.1-3321(a) of the Code of Virginia (1950), as amended.

§ 3.                     That the aforesaid tax rate of $1.10 shall be applied in lieu of the Rolled Back Tax Rate of $1.072.

§ 4.                     This ordinance shall be in force and effect as of January 1, 2023.