Tax Rate Increase For Virginia Beach A Possibility

Will the tax rate increase for homeowners in Virginia Beach? Home values in Virginia Beach and in my area of Glenwood have continued downward for the second year in a row. The assessments on homes will fall by an average of 5.75%. What a striking difference from 2006 - 2008 when assessments rose by over 20% each year in Virginia Beach. If you want to see the entire report go to PilotOnline.com While homeowners may think they will see their taxes go down, Mayor Will Sessoms thinks there should be a revenue nuetral budget. Sounds like a plan to me. What actually means is raising revenue and that would include the tax rate. It looks like the tax rate would go up 2 or 3 cents. The city has been hit hard by the state decreasing funding as well. While I don't like taxes anymore then anyone else if they are spent wisely I am OK with it.