Finance
Water Payment Information
The Finance Department works to ensure that all of Richmond’s revenues, expenses, and reserves are managed and accounted for in an effective and efficient manner, and all financial records are presented in a timely and accurate format to the Selectboard and the Town Treasurer.
This is accomplished by annually reviewing and enforcing the Town’s policies, procedures, and accounting controls to ensure they meet Generally Accepted Accounting Practices (GAAP) and follow best practices as determined by the Town’s Selectboard, Town Manager, and Finance Director. In addition, the Town has an audit done annually, by an external accounting firm, that reviews all financial transactions and management of the Towns Taxes, Water, Reserve accounts, revenue, expenses, loans, and grants.
The Town of Richmond has four property tax installments each year which are due on August 15th, November 15th, February 15th, and May 15th. Late payments are charged a 1% monthly interest fee for the first 90 days past due, and 1.5% monthly interest fee for amounts more than 90 days past due. If all annual taxes are not paid by May 15th there is an additional 8% penalty fee and the account status is considered delinquent at that time.
The Richmond Water & Wastewater department has four installments each year that are due on September 30th, December 31st, March 31st, and June 30th. Accounts with outstanding balances are charged a 1% monthly interest fee. If all water payments are not made in full by June 30th there is a 8% penalty fee applied to the account. Outstanding balances will result in an account being shut off if a payment agreement is not in place or a balance is not paid in full.
If any tax or water installment due dates fall on a weekend or holiday the payment will not be subject to late fees as long as it is made by the first business day following the weekend or holiday.