Tax caps to cost Richmond $1.477 million; Wayne Co. out $1.26 million

The numbers are final, but the losses in tax revenues are not.

The Wayne County Auditor's office recently established an assessed value for property in Wayne County and, in doing so, officials were able to calculate the losses for each taxing unit brought on by property tax caps in place this year.

Wayne County will lose $1.26 million. The city of Richmond will lose $1.477 million. Richmond Community Schools will lose $802,635.