Set property tax rate at 0.14% for pension fund payments
In Plain English
Richmond property owners pay a special 0.14% tax on their property values to help cover city employee pension costs and bond payments. The rate stays the same as last year but will raise $23.9 million due to higher property values. If approved, proceeds beyond bond payments reduce pension costs paid from the general budget.
Auto-generated summary. Source: official agenda documents.
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