Richmond tightens tax exemption rules | Richmond BizSense

Richmond tightens tax exemption rules | Richmond BizSense: tax break on real estate for local nonprofits will soon be harder to come by.

The Richmond City Council on Monday night voted unanimously to impose a moratorium on “by designation” property tax exemptions for nonprofits that aren’t automatically excused by state law.

The change to the ordinance means that nonprofits in the city, with the exception of state-approved hospitals, government organizations, religious organizations, libraries and schools, won’t be able to apply for tax-exempt status on their real estate for 2014 or beyond.