Richmond City Council weighs real estate tax rate cut amid concerns over slowing revenue

WTVR.com reports: RICHMOND, Va. — As Richmond City Council considers lowering the city’s real estate tax rate, Mayor Danny Avula and top administrative officials are warning that a slowing economy and pending financial commitments could make a significant tax cut difficult to sustain. During a presentation Monday afternoon, council members heard an analysis from PFM, a national consulting firm that provides financial services to local governments. “What we’ve heard today is that we’re entering a very different fiscal environment,” Avula told City Council members Monday.

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