PORTSMOUTH, Va. (WAVY) — Five Hampton Roads cities officially adopted their fiscal year 2025 budgets Tuesday night.
Virginia Beach, Norfolk, Portsmouth, Newport News and Chesapeake approvals come later Hampton It is Suffolk previously approved their budgets for fiscal year 2025.
Here are some of the highlights:
Virginia Beach
Virginia Beach spent its Budget of US$2.6 billion for fiscal year 2025 on Tuesday in a 10-1 vote, with Councilman Chris Taylor voting no.
The budget includes 30 new full-time positions to help with the Virginia Beach Fire Department being struggling with staff burnout due to staffing issues/increased overtime.
It also includes a two-cent property tax reduction, from 99 cents (per $100 in assessed value) to 97 cents, and a $3.05 monthly increase for curbside recycling to support a renewed recycling contract.
Meanwhile, approximately $1.6 million will be redirected from the city’s tourism investment program (TIP) fund to the general fund to create the city’s first fund dedicated to supporting arts and culture.
Taylor, who is one of five people running for mayor of Virginia Beach, did not share her reason for voting no. the comment period before Tuesday’s vote.
Read the FY25 budget documents here.
norfolk
The Norfolk City Council voted unanimously to approve its combined $1.97 billion budget and capital spending plan Tuesday night.
Includes a property tax rate reduction of two cents to $1.23 (per $100 of assessed value).
The budget also provides for a 51% tax reduction on personal property taxes for vehicles with an assessed value of about $1,000 up to $20,000 in assessed value, and a 100% tax reduction for vehicles valued at $1,000 or less .
There is also $60 million in CIP’s FY25 for renovations at Scope and Chrysler Hall, with $150 million total over the CIP’s five years for site improvements. There are also millions in the CIP to continue the city’s work Coastal Storm Risk Management Project.
Read more about the budget here.
Portsmouth
The Portsmouth City Council unanimously approved its combined $902 million fiscal year 2025 budget and capital improvement plan on Tuesday.
The budget includes a 3.5% raise for municipal employees and a 7% raise for teachers. There is also a 5-cent property tax credit, effectively reducing the city’s $1.25 fee (per $100 of assessed value) to $1.20 per year.
And with recently approved state funding that will help with raises for teachers, the city is planning to use the money saved to effectively reduce property tax bills by another 2 cents, with other funds to help mitigate water/sewer increases. quotes.
Previous: Portsmouth’s FY25 budget uses casino revenue to maintain property tax relief and fund schools
Newport News and Chesapeake also voted to approve their budgets. You can read them here It is hererespectively.
Previous: Newport News FY25 budget maintains tax rate, fully funds schools request
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