Virginia: Vote related to potential Richmond casino tax revenue postponed

Virginia: Vote related to potential Richmond casino tax revenue postponed

Article brief provided by USBets
  • Bennett Conlin, USBets
April 26, 2022 6:58 PM
  • Bennett Conlin, USBets

On Monday, the Richmond City Council delayed a decision regarding the allocation of potential tax revenue from a possible casino. The council discussed a pair of proposals with Richmond Mayor Levar Stoney on Monday, but there won’t be a vote on them until at least mid-June.

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Stoney’s proposal provides a 2-cent reduction to the city’s real estate tax rate. The mayor crafted the proposal in hopes of garnering support for Richmond’s casino referendum this year, after the effort failed last year. If construction of a casino in the city is approved by voters, estimates say Richmond could make $30 million annually in tax revenue.