CITY'S ASSESSMENT TRAGEDY FOR VIRGINIA
BEACH HOMEOWNERS
A
Virginia News Source/Virginia Beach Taxpayer Alliance Special Report
[Editor's
note: Click on the link below to go to rest of the story - there's an
additional link to every neighborhood in the city at the bottom of the
next page].
VBTA logoVIRGINIA BEACH (July 27, 2006) - - Residential real estate tax
burdens that will never appear in Beach Magazine or on Virginia Beach
City Page, those full color ads appearing as part of the Virginia Beach
propaganda machine funded by unsuspecting home owners!
FACTOID: In FY 2006/07, over 89,000 homes located in 538 neighborhoods
received assessment increases ranging from 20% to 89% from the previous
fiscal year. Number receiving double-digit increases: 854
neighborhoods!
FACTOID: For FY 2006/07, City Manager Spore proposed and Council
approved just a 3% reduction off the tax rate of $1.0239 to $0.99 per
$100.
The breakout & tax burden of soaring assessments are impacting
families in 950+ neighborhoods...
FACTOID: 23,995 homes located in 206 neighborhoods received increased
assessments ranging from 30% to 91.5%!
FACTOID: 65,819 homes located in 332 neighborhoods received increased
assessments ranging from 20% to 29%. Accordingly, 89,774 homes out of
135,050 residential properties received tax increases ranging from 5 to
29 times the rate of inflation!
FACTOID: 37,500 homes in 316 neighborhoods received double digit
increased assessments ranging from 10% to 19%, at least 2 to 4 times
the rate of inflation!
FACTOID: By comparaison, the average rate of inflation over the past 4
years has been 2.925% MORE