Tax relief - an oxymoron in Virginia Beach
by Bob O’Connor
What is the prospect for
some relief from our ever-increasing real estate taxes?
There is no relief is
sight for years to come – if ever.
There will be no relief
if city council continues to increase spending year after year and the
population of Virginia Beach remains static. More spending, no
additional people to share the costs; therefore the same people will
have to pay more. It follows that your real estate taxes will increase
to pay whatever increase in spending our council decrees.
In our previous Monitor,
we showed a graph of the increase in real estate assessments. Your have recently paid your real estate taxes.
Imagine that your real estate taxes will increase again next year
by at least the same amount. It could happen and probably will happen because the Virginia
Beach five-year forecast shows an ever-increasing operating budget.
The operating budget for
this current fiscal year is $1.3 billion.
The five-year forecast shows that by 2008 that operating budget
will increase to $1.5 billion. Who will pay the additional $200 million?
We will. And that is not the worst to come.
Our city council is
planning to spend about $1 billion dollars on several projects in the
Oceanfront Resort Area Concept Plan (Reference the article “Request
For a Business Plan” in The Monitor last September).
The plan includes the new convention center, the 19th
St. corridor, Rudee Loop, and beatification of several gateways.
All these projects will be funded by debt. The tax revenue from tourism will NOT be enough to pay the
annual debt payments for all the major projects.
Virginia Beach taxpayers,
if council plunges ahead with all these very expensive projects, will
soon be faced with a serious debt problem. Who will pay? Who else is there?
The five-year forecast
for the operating budget and the massive expenditures for the Oceanfront
Resort Area Concept Plan will determine your real state taxes for years
If you are fed up with
your tax increases during the last few years and want to avoid similar
increases throughout the next ten years, you must call your elected city
council representative and/or the mayor.
Tell them, “No more real estate tax increases.”