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What the mayoral candidates will do about Richmond's real estate tax rate

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RICHMOND, Va. -- All five mayoral candidates took the stage at the Citizens' Debate Tuesday.

The debate, held at the Virginia Museum of History and Culture (VMHC), was co-sponsored by Richmond First, the VMHC’s John Marshall Center, the Richmond Times-Dispatch, and WTVR CBS 6.

Moderator Greg McQuade and panelists Bob Holsworth, Chris Coates and Reba Hollingsworth asked 11 questions to the candidates — Andreas Addison, Danny Avula, Michelle Mosby, Maurice Neblett, and Harrison Roday.

Richmond Mayoral Candidates 2024

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Citizens' Debate Recap: Where Richmond's mayoral candidates stand on key issues

WTVR CBS 6 Web Staff

The fifth question of the debate was: We've had an explosive rise in real estate assessments over the last five years without an accompanying reduction in the real estate tax rate. That's led to frustrated homeowners, increased the costs for renters of apartments, and has even led to some long time residents being essentially priced out of their gentrifying neighborhoods. Would you pledge tonight, if you're mayor, to reduce the real estate tax rate in the city to lower the cost of living for its residents?

Michelle Mosby

I think that to say I'm going to pledge tonight to do that without being there, to look at all the ins and outs of the budget would be premature.

I am committed to looking at the tax structure, but currently, I have been a part and watched our city. We're now in collective bargaining. We still have a ways to go in collective bargaining.

We have added Virginia Retirement Systems to our portfolio, which has added other dollars.

We now have the Diamond District that's online.

We now have the Affordable Housing Trust Fund that has shifted, and now the dollars that go to the Affordable Housing Trust Fund are now a part of the debt.

It's now time to look to see where we are before we can actually lower the tax structure.

But I am committed.

I recognize that the people of Richmond need relief, and I want to be able to provide that relief, but I want to do it in such a way that we can provide excellence and services.

I'm a firm believer that if you get excellence and services, it might not be that you're seeing the price as a problem.

Andreas Addison

Real estate taxes are one of the biggest things that the government has discussed over the last eight budgets I've been a part of.

So here's the challenge.

We have a system that punishes you for staying in your home when your neighbor buys and sells their house.

We've seen a home study that showed that racial disparities around Black homeownership is being lost at an alarming rate, and that is due in part to what government's taxation structure is.

That is why in 2019 I went to Jennifer McClellan, who was then state senator, to work on adding Richmond to a list of cities allowed to do a real estate tax reform opportunity. In 2022, City Council funded the study and the implementation plan that has created a roadmap to understand how we can separate how we tax real estate.

More importantly, transitioning our burden of balancing our budget from homeowners to focusing on our new growth, more importantly, the thriving, beautiful city outlined the Richmond 300 Master Plan.

I'm tired of taxing homeowners. Let's focus on our vision of future together.

Danny Avula

I think housing affordability is the biggest crisis that our community is facing right now.

It's actually the reason that I decided to run for mayor after living in the East End of Richmond for 20 years and seeing house rental rates rise and property tax assessments rise, and many of my low-income neighbors getting pushed out of the neighborhood.

I think we absolutely need to look at property tax reduction. We also need to make sure that tax relief is done in an equitable way, and that we are prioritizing people who struggle the most with the most tax relief.

Sounds like this decision is going to get made by council before any of us take office, but know that I'm 100% committed to working with the council to make sure the balance the budget is balanced, whatever they decide.

Maurice Neblett

With all these things outweighing against the budget, we we have a lot of experience up here there where we should at least be able to forecast.

I've supported Reva Trammell enforcing a drop on the real estate tax, because I believe that we need relief. And that's that's an initial relief. We can do more.

I pledge that we can take that down to $1.08. Reason being, I have a method of bringing in more real estate revenue by creating micro-communities utilizing prefab homes, which price range is under $100,000 and we can sell them at a market value of $175,000 and if we have 11,000 units, we can generate around about $800 million.

We need to create a new stream of revenue, and that not just relying on the backs of the citizens and the real estate tax.

Harrison Roday

The critical issue that we are facing is, how do we support the majority of Richmonders that are renters and who are seeing their rents increase and our homeowners, who are seeing their real estate assessments go up too fast relative to their incomes.

I am strongly in favor of a targeted approach.

I am tired of seeing people pay over $1,000 a month to live in apartments that are infested with mold and have landlords that don't do their job. I'm tired of hearing from our neighbors who say, because of these assessments, I don't think I'm going to be able to live in the neighborhood that I've called home for decades.

I support targeted relief for those individuals that is meaningful, a citywide tax cut would disproportionately benefit homeowners with home values over a million dollars and jeopardize core services.

Let's focus on supporting the people who need the help.

Learn more about the candidates

We recapped every debate question here:

Watch the full debate here or on our YouTube channel.

CBS 6 interviewed each candidate ahead of the debate, which you can find here:

For more information on this year’s election — and how to cast your ballot in the City of Richmond or the surrounding areas — visit WTVR’s Virginia Voter’s Guide.

You can check your voter registration here. The last day to register to vote is Oct. 15.

What hopes do you have for Richmond's next mayor? Email the CBS 6 Newsroom and let us know.

Note: WTVR used AI software to transcribe the debate and newsroom staff to edit for clarity.

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