Virginia Beach, Va. - Virginia Beach Councilman John Moss is telling his constituents that the city manager tomorrow will push for a six-cent increase in the real-estate rate. That would boost the Beach's rate from $0.93 per $100 of assessed value to $0.99. The tax bill for a house assessed at $300,000 would increase $180 a year.
Moss wrote on his official Facebook page that two cents of the increase would be earmarked to help fund a light-rail extension from Norfolk to the Beach's Town Center. That transit project will cost around $300 million. The state will pick up about half the tab, leaving the rest to the city.
"I for one will not vote for a tax rate increase of any kind," Moss wrote. "I may prove to be the lone 'No' vote."
Even if the tax increase is eventually passed, Virginia Beach will still have the lowest rate in Hampton Roads' seven cities. But because of the size of the city, an increase of six cents could generate around $30 million in extra tax dollars.
The city manager is scheduled to present his budget proposal Tuesday night at 6 p.m. in City Council chambers.
