City Manager’s Proposed FY 2024-25 Budget Presented to City Council

Residents are encouraged to provide input online and in hearings now through April

The city manager’s proposed FY25 budget presented to City Council on March 19 includes a 2-cent reduction in the real estate tax rate, which would help offset the rising real estate assessments for Virginia Beach property owners. If adopted, the real estate tax rate would decrease from 99 cents per $100 of assessed value to 97 cents, remaining the lowest in the region.

The rate reduction would help to offset the 7.37% year-over-year growth in real estate assessments, so that it would remain near the 5% historical average growth in Virginia Beach. The total proposed budget of $2,634,032,570 represents a 2.77% increase over last year, which remains lower than the January 2024 3.1% inflation rate reported by the Bureau of Labor Statistics. The 2-cent reduction in the real estate tax rate would reduce revenue by $15 million.  

The proposed budget includes an overall decrease of 17.15 full-time equivalent positions for the City and Schools, many of which were long-term City vacancies.

Other highlighted changes in the proposed budget include:

An increase of $3.05 monthly in the Waste Management fee for households that receive curbside recycling.
Approximate 3.5% pay increase for all positions in the City and Schools.
Funding for Rudee Loop Park Development, $60 million supported by the Tourism Investment Program (TIP) Fund
A six-year plan to redirect funding from some existing dedications to the Capital Improvement Plan (CIP)

The full budget is available for residents to view at public libraries, City Hall and online at virginiabeach.gov/budget.

The proposed budget will not be finalized until May 14. Until that time, departments will present their proposed budgets to City Council and residents are encouraged to provide input online or in person. Attend the City Council meetings in-person or watch them online.

Budget Timeline

City Council Workshops – Budget & CIP Presentations: March 26, April 2, April 9, April 16
Public Hearing, Virginia Beach Convention Center: April 17 at 6 p.m.
City Council Workshop (Special Session) – Budget & CIP Presentations: April 23
Public Hearing, City Council Chamber: April 23 at 6 p.m.
City Council Workshop – Budget Presentations & Discussions: April 30
Reconciliation Workshop: May 7
City Council Votes on Budget: May 14

This year’s budget process includes changes based on the FY24-25 Focused Action Plan, which sought to increase opportunities for Virginia Beach residents to weigh in on the budget, and for City Council to receive information earlier and in a different format.

City Council and the School Board received the annual Five-Year Forecast: Nov. 10, 2023
Residents participated in a Community Conversation about budget priorities: Jan. 18
City Council discussed the results from the Community Conversation and other budget-focused matters during the Council Retreat: Feb. 13-14

Share Your Thoughts

Residents are encouraged to provide feedback about the proposed budget. Several options are available. If you have a specific budget question, send it to budget@vbgov.com.

Attend Two Public Hearings In-Person or Virtually

The City Council will hold two public hearings in April to gather resident input on the budget. Both meetings will be held at 6 p.m. and allow for in-person and virtual audiences.

Wednesday, April 17 – Virginia Beach Convention Center – WebEx
Tuesday, April 23 – Council Chamber, City Hall, Bldg. 1 – WebEx

Residents wishing to make comments during the hearings must register with the City Clerk’s Office by calling (757) 385-4303 prior to 5 p.m. on the day of the hearing. If participating virtually, please also register via WebEx.

Use Balancing Act and Taxpayer Receipt

Balancing Act gives residents the ability to tinker the proposed FY25 City budget and suggest changes. Residents can raise or lower individual taxes and raise or lower individual spending items. The only catch is that the budget must balance.

For every change in spending or revenue, there must be an offsetting change elsewhere. Lower taxes? Sure – but you must also lower spending somewhere, or raise taxes elsewhere, to balance the budget. Want more money for a favorite service? Absolutely – but show us where you'll get the money by trimming another service or raise a tax or fee.

Leave comments and hit SUBMIT. City Council will get all suggested changes and comments.

After using Balancing Act, try another online tool, Taxpayer Receipt, to see an estimate of how much you pay in City taxes and what you get for your money. Anonymously enter the value of your home and value of your car.

The tool will show you an unofficial tax bill based on the information you entered and where the money is spent. The tool calculates taxes on real estate and personal property. It does not include fees for water, sewer, trash and stormwater.

Send Us Your Feedback

Input related to the budget may also be submitted via SpeakUpVB.com. Give your feedback online or leave a voicemail now through 11 p.m. on April 24.

Budget-related comments can also be shared with the entire City Council at citycouncil@vbgov.com.

Be in the Know About the Budget

Learn more by visiting budget.virginiabeach.gov. Watch the City Council meetings and provide your input on the proposed budget. Subscribe now to get updates on the City’s budget process and how you can provide your input before major decisions are made.