City Council Budget Information

Please find below some of the highlights of the Council's work on the City Budget:


Council kept the Richmond Real Estate Tax Rate the lowest in more than 30 years, down $.92 since 1980.

Council approved splitting up the payments of Richmond Real Estate Taxes and, beginning in 2011, they will be divided in two and collected two times a year (January and July) instead of all at once. This move will decrease interest costs needed when borrowing money to pay for services until tax collections are made.

Council's adopted Richmond City Government Budget for FY 2011 was $82,072,440 less than FY2010, which was $36,277,610 less than FY2009, for a three year total Richmond City Government Budget reduction of $118,350,050.

Council cut Mayor's proposed FY 2011 budget by $5.2 million ($4.6 million of which was the result in state revenue reductions to Richmond Public Schools).

Council amendments to the Richmond City Government General Fund resulted in approximately $600,000 in reductions.

Council added additional $2.5 Million for repairs and maintenance for Richmond Public Schools.

Council approved a loan program for local small businesses/community development.