Richmond Relaunches Real Estate Tax Sales Program to Recover $24 Million in Overdue Property Taxes
The City of Richmond is set to relaunch its Real Estate Tax Sales Program in November, aiming to recover over $24 million in overdue property taxes. Richmond Mayor Danny Avula stated that improving revenue collection is crucial for managing the increasing costs of government operations. As of August 31, the city identified more than $24 million in outstanding property taxes. The program, which was previously paused in 2023 by the Levar Stoney administration, allows for the seizure and sale of properties that meet specific criteria under state law. A key requirement is that a property must be at least two years behind on its taxes. City officials have already identified 85 properties that meet this threshold, accounting for approximately $5.4 million in missing tax revenue. Additionally, 21 blighted properties could also qualify, as state law only requires them to be in arrears for one year. Despite the enforcement mechanism, Chief Administrative Officer Odie Donald II emphasized that the program's focus is...
