Richmond’s property tax levy will increase slightly for 2026 following a year that brought a slight decline in overall assessed valuation but significant growth in new construction.

City Council members recently approved a total property tax levy of $1.2528 per $100 of assessed valuation, up from $1.2324 in 2025. The increase comes as the city’s total assessed valuation decreased approximately 0.72%, from $87,247,817 last year to $86,615,652 this year, while new construction and improvements increased approximately 169%, from $549,980 to $1,481,790.

City Administrator Tonya Willim explained the overall decrease was driven by personal property valuation, which fell from $22,837,287 in 2025 to $19,998,469 in 2026. Real estate valuation moved in the opposite direction, increasing from $60,958,640 to $62,867,060.

The Ray County Assessor advised the city that additional personal property assessments will continue to be processed until the final assessment figures are issued in September. City …