You know its coming …… anticipation and fear seem to be hand in hand . What am I talking about ? Your homes tax assessment drop and how the city will make up that deficit. Reading about Virginia Beach home values and the assessment values being lowered only triggers one thought in my mind . WE WILL HAVE ANOTHER TAX SOME WHERE !
My own personal home has had a drop this year of 20k and from what I can see many of my beach residence friends all had just about the same thing. One term was a revenue neutral budget ( WTH does that mean ?) It means RAISING the rate to make up for the short fall. Virginia beach has a short fall of 31.8 million in loss real estate taxes. Currently the rate is .89 per 100 assessed value. Seems Will Sessoms is supporting a 2-3 cent tax increase. WHOOO HOOO Bob dyer way to tell the truth . When the boom was going yes everyone enjoyed the reaping but of course a smart planner would have seen this is not going to continue and there for dont budget on such high income. My own family saw that !!!! We never lived with in the means of the income only made a few bonus purchases here and there but did not create a house budget on the excess. I to would be looking all over and trig to figure out where we would get the money if we did that. WHY OH WHY cant the city officials see what I saw ?
Well City officials maybe you all need to take a look at who voted for the spending hey day instead of buying things with one time cash budgets or saving some of the surplus. Just my opnion !