D.C. developer owes Richmond $293,777 in taxes

Richmond officials said they have not had contact with Jemal or representatives about his delinquencies or plans

via timesdispatch.com.

City of Richmond, Virginia – Finance – Third Quarter Financial Review

scribd.com

During the mid-year update, FY 2 0 1 0 revenue were estimated to be $ 2 . 8 million less than the Adopted Budget. At the end of the third quarter (March 3 1 , 2 0 1 0 ) the City was tracking to the mid-year forecast.

During April, which is outside of the third quarter reporting process, the Administration received additional information related to FY 2 0 1 0 Real Estate assessments as well as Business/Professional/Occupational Licenses (BPOL). These data, as well as key updates in other sources, suggest the City is tracking to an essentially flat budget – consistent with the FY 2 0 1 0 Adopted Budget.

With that being said, May and June are critical collection months for real estate and personal property taxes. With more than one-third of the budget being associated with these two revenue sources, any major changes to collection forecasts in these categories may have a significant impact on year-end projections.