A
t a debate three weeks before Election Day, Richmond's five mayoral candidates presented competing visions for addressing surging rents and housing prices. When asked if they would pledge to reduce the real estate tax rate, some candidates were hesitant.

    Michelle Mosby, a former 9th District councilwoman, said she couldn't commit to a tax cut without reviewing the city's budget. She pointed out that the city has outstanding financial obligations, including funding for collective bargaining agreements and the Affordable Housing Trust Fund. While acknowledging the need for relief, Mosby emphasized her commitment to exploring options.

    Dr. Danny Avula, former director of the Virginia Department of Social Services, also declined to make promises. He suggested that any tax reduction must be done in an equitable way, balancing the needs of different groups. Avula pledged to work with the council to ensure a balanced budget.

    Harrison Roday and Michelle Mosby both advocated for a targeted approach to tax relief, focusing on those who need help most. However, under current Virginia state law, targeted tax relief is not permitted. Both candidates called for changing this law.

    Maurice Neblett took a more radical stance, suggesting that the city could afford to slash the rate dramatically right now. He proposed bringing the rate down from $1.20 to $1.08 per $100 of assessed value by sourcing new revenue streams, such as cost-effective prefabricated housing.

    Andreas Addison pitched tax reform, advocating for a transition from a market-based tax rate to a land-value tax model. Under this system, homeowners would be taxed based on the value of their land rather than the development or improvement of their properties. Addison argued that this approach would prevent residents from being penalized for improving their homes and stimulate commercial development.

    Richmond residents will vote in local, state, and national elections on November 5.