Richmond’s real estate tax rate will remain at $1.20 next year, the highest rate in the region even though the mayor’s proposed 2010 budget is $26 million less than the current year’s budget. “I do not think we would be responsible if we cut the budget any more,“ said Council President Kathy C. Graziano before calling for a vote last night. “It will be difficult to balance even at $1.20.“

Richmond’s real estate tax rate will remain at $1.20 next year, the highest rate in the region even though the mayor’s proposed 2010 budget is $26 million less than the current year’s budget. “I do not think we would be responsible if we cut the budget any more,“ Council President Kathy C. Graziano said before calling for a vote last night. “It will be difficult to balance even at $1.20.“

Dinwiddie Supervisors propose cut in tax rate Property reassessments, taken every four years, climb as much as 47.4% The Board of Supervisors yesterday agreed to propose a lower real estate tax rate, but that didn’t please residents whose property assessments have risen dramatically. The board voted 3-2 to advertise a real estate tax rate of 77 cents per $100 of assessed value, 10 cents less than the current rate. Yet even at that proposed rate, the property tax levy would rise 25 percent, based on a 2008 reassessment that showed existing residential property values rose an average 47.4 percent.