Register Staff Report
The Richmond City Commission Friday morning voted unanimously on second reading to maintain the compensating tax rates they approved on first reading Tuesday. The rates are:
Personal property: 13.5 cents on every $100 of value.
Real property: 12.4 cents to the general fund on every $100 of assessed value; 1.8 cents per $100 to the parks and recreation maintenance and facilities fund.
Motor vehicles (collected by county court clerk): 26.9 cents per $100 to the general fund; 1.8 cents per $100 to the parks and recreation maintenance and facilities fund.
According to the ordinance, tax bills paid before Nov. 1 will be discounted 2 percent. Bills paid after Jan. 1 will be charged a 10-percent penalty. An annual interest rate of 15 percent also will accrue on not paid by Jan. 1.