Stimulus Checks: Richmond property owners get new rebate

February 11, 2023 Najuk Priya Stimulus Check 0

Stimulus Checks: Richmond property owners get new rebate

A deal has been made to give hundreds of thousands of Richmond residents property tax rebates next year under an $ 18 million plan.

Richmond, Virginia, Mayor Levar Stoney and six city council members have agreed to send out rebates to reduce a property owner’s tax bill by five cents per $100 of assessed property.

Property owners currently pay $1.20 for every $100 of property, but under the mayor’s Five Back initiative, that number would go down to $1.15, according to The Sun.

“So, a home assessed at $350,00 and a real estate tax bill of $4,200 would receive a one-time rebate of $175,” Mayor Levar Stoney said.

The rebates will cost the city $ 18 million, taken from its budget surplus for 2022.

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