Virginia Beach council approves budget: Drops real estate taxes and gives significant raises to police, fire and EMS
Alissa Skelton, The Virginian-Pilot
Property tax relief for residents and significant raises for law enforcement and first responders are on the way in Virginia Beach after the City Council unanimously voted Tuesday to approve the budget.
As home values rise, the City Council decided to drop its real estate tax rate by 2 cents from $1.0175 per $100 of assessed value to 99 cents per $100 of assessed value.
Vice Mayor Jim Wood announced on Tuesday the council found a way to decrease the tax rate further than had been proposed during last week’s public meeting.