Share Your Thoughts on the Proposed Budget Options

On March 7, Virginia Beach Real Estate Assessor Sue Cunningham presented an overview of the 2023/2024 assessment to City Council and the good news for homeowners is that nearly everyone’s investment has appreciated. However, the flip side of that coin is that unless the City Council takes action, most residents will be paying more in real estate taxes.

If you’re a Virginia Beach property owner, by now, you should have received your FY 2023-24 real estate assessment notice in the mail. If not, you may look up your assessment information at propertysearch.virginiabeach.gov.

Currently, the City’s real estate tax rate is 99 cents per $100 of assessed value – the lowest in the region.

Revenue from real estate taxes typically make up about half of the City’s general fund and about a third of the total budget. They are primarily used to help cover the expense of providing municipal services such as public education, fire and police protection, and roads throughout Virginia Beach.

As requested by Council, Director of Budget & Management Services Kevin Chatellier presented four “sliding scale” options for tax rate reductions between 1 cent and 4 cents of the real estate tax at the April 11 City Council Meeting.

City staff generated a list of recommendations for expenditure reductions keeping in mind that the reductions needed to be sustainable. This was an important consideration because unsustainable reductions could negatively impact the City’s bond rating and therefore the rates at which the City can borrow funds for major projects. The reduction options provided are options for consideration but are not intended to be presented as the only possible reduction options. The list primarily targets staffing and Operating Budget additions included in the City Manager’s Proposed FY 2023-24 Operating Budget and CIP.

View Chatellier’s presentation, which provides a high-level overview of these options, at virginiabeach.gov/proposedbudget.

Share Your Thoughts

Residents are encouraged to provide feedback on the various options in several different ways.

Use Balancing Act Tools

The City has four interactive tools from Balancing Act, the newest being Tax Reduction Simulation, that allow residents to tinker with the proposed budget, recommend changes and provide feedback.

• Tax Reduction Simulation: This new tool gives residents the ability to suggest changes that would impact tax relief on a sliding scale approach. Residents can select what City programs and services they would like to keep or cut in exchange for real estate tax relief between 1 cent and 4 cents per $100 assessed value.

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 19 – Virginia Beach Convention Center (1000 19th Street) – WebEx meeting
• Tuesday, April 25 – Council Chamber, City Hall, Bldg. 1 (2401 Courthouse Drive) – WebEx meeting

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.

Share Your Thoughts Electronically

Comments related to the budget and potential tax relief options may be provided via SpeakUpVB.com or emailed directly to 24budget@PublicInput.com. Do you have a specific budget question? Send it to budget@vbgov.com.

Leave a Voicemail

Residents may leave a voicemail for City Council on the proposed budget and tax relief options through SpeakUpVB.com. Call (855) 925-2801. When prompted, enter Project Code 6739. Your voicemail will be transcribed and shared with City Council.

Budget Resources

To view the complete proposed budget, budget presentations and the live presentations to City Council, visit virginiabeach.gov/budget.

Responses, comments and suggests will be provided to the City Council on April 21 and 28 in their Friday packets. City Council will hold its Reconciliation Workshop on Tuesday, May 2 and they will vote on the final budget (and real estate tax rate) on Tuesday, May 9.