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Richmond Mayor Levar Stoney wants to raise the real estate tax rate 9 cents and levy a 50-cent per-pack tax on cigarettes to improve municipal infrastructure and boost school funding, he told the City Council on Wednesday.

The real estate tax hike would bring Richmond’s rate to $1.29 per $100 of assessed value, restoring the rate the city last imposed on property owners in 2006. The two tax increases would yield $24 million in new annual revenue that Stoney wants to give Richmond Public Schools and use on long-deferred repairs to roads and sidewalks that he said the city can’t continue to ignore. Rising assessments are expected to generate roughly $22 million on top of the proposed property tax hike.

“It’s time for us to have the tough, honest conversations about what it will take to build the city we want,” Stoney told the council before announcing the pair of tax increases on which his budget depends. “It’s time we demonstrate we have the courage and the vision to take the actions required to make Richmond not just a top 10 place to visit, but a top 10 place to live.”

The School Board asked the city for an extra $18 million a year for operations and $21 million for capital needs. Stoney’s plan would cover the operating request and provide $19 million next year for capital maintenance projects.