Richmond Mayor Levar Stoney says he’ll offer city residents two cents off the real estate tax rate, if voters say yes this November to the ONE Casino + Resort project in south Richmond. But, at least one councilor is now pumping the brakes on that idea.
“A proposed tax cut would mean less money in our city revenue and city general fund to be able to support not only our schools but our city service needs,” said Stephanie Lynch, Richmond City Councilor.
Councilor Lynch wants to take that money and set it aside to provide funding for Richmond Public Schools. That two-cent reduction is the equivalent of between $22 million and $30 million. She introducing the idea to councilors now, with a potential standoff vote between the competing ideas for casino revenue at council’s meeting next month.
