RICHMOND, Va. (WWBT) - Richmond City Council will vote Tuesday on a proposed four-cent reduction to the real estate tax rate, a decision that could create a nearly $17 million budget shortfall for the current fiscal year.
Mayor Danny Avula expressed concerns about the timing of the tax cut during an appearance on the 12 On Your Side Plus Streaming Show at 6:30 on Monday night.
He warned that the reduction could jeopardize employee salaries, Richmond Public Schools funding, and capital investments.
“Now if we were to change that budget mid-stream to reduce our availability of funding by $17 million, we would really have to figure out what we are going to cut back on,” Avula said.
The mayor emphasized his commitment to maintaining critical city services despite the potential revenue