VIRGINIA BEACH, Va. —
Virginia Beach City Council members heard the public’s thoughts on the FY 24-25 proposed budget Wednesday night, which is 2.7% larger than last year’s.
The $2.6 billion proposal allocates 45.1% to education, 13% to public works, planning and utilities and 13% to public safety.
Among the highlights is a two-cent drop in property tax to 97 cents/$100 in assessed value. Virginia Beach has the lowest property tax in Hampton Roads and is the only city with a tax rate below one dollar.
Residents couldn’t agree on whether the proposed decrease would help or hurt the city.
Some said, with inflation high, a two-cent decrease will go a long way in helping citizens.
“Citizens of Virginia Beach still find it difficult to make ends meet as evidenced by daily inflation pressures,” said one meeting attendee.
Others claim the tax break will only take away from school funding and social services, while benefiting the wealthy.
“Kids come first,” said parent Cody Conner. “A good father always eats last, and if you take from your children, just so you can have more, you were wrong. Full stop.”
Public education would receive the most funding by far if the budget is approved, with $1.1 billion slated to go to schools.
Other advocates also spoke out against the rate decrease, saying with lower taxes, improvements to the city will be delayed.
“We recognize that no one likes taxes,” said Scott Miller, president of Virginia Wesleyan University and the business advocacy group Virginia Beach Vision. “The proposed budget already requires the continued deferral of maintenance on public buildings, on the replacement and modernization of municipal schools, and on planned improvements to our roadways. Reduction will lead to higher costs, further deferrals and the degradation of current services.”
Even with the decreased tax rate, many property owners could pay more in taxes, as real estate assessments increased by 7.4% this year, according to the city’s real estate assessor.
Virginia Beach has the lowest property tax rate in Hampton Roads.
Also at the meeting were members of the arts advocacy group, Citizens for VB Arts. Group members called on council to establish a consistent, dedicated and sustainable source of funding for fine arts.
“The insufficient city support unfortunately comes at a time when the arts are facing unprecedented increases in costs,” said Susan Grube with the Virginia Beach Arts & Humanities Commission.
City Council will vote on the budget on May 14.