Virginia Beach Officials Look at Property Tax Hike

The Virginian Pilot is reporting that Virginia Beach officials are considering a possible property tax increase to pay for some large projects in the city. Various members of City Council are not sure that the tax hike would be necessary to complete the most essential projects, or that the funds couldn't be raised in a different manner.

Although homeowners in Virgina Beach could benefit and enjoy the completion of these projects, it may be in the best interest of homeowners to work with city officials in finding alternative ways to fund projects like a new animal shelter.

"Mayor Will Sessoms and Vice Mayor Louis Jones on Monday floated the idea of raising taxes next year to pay for several large projects, including a new animal shelter and a Bayside recreation center.

"Bottom line: This could result in a tax increase," Sessoms said during a break at the annual City Council retreat.

He suggested that with lower construction costs caused by the weak economy, the city might be able to get $100 million worth of buildings for $70 million."

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Posted on Tuesday, August 4, 2009 - 10:40pm