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Hampton Roads cities adopt FY25 budgets

In World
May 15, 2024

PORTSMOUTH, Va. (WAVY) — Five Hampton Roads cities officially adopted their fiscal year 2025 budgets on Tuesday night.

The approvals by Virginia Beach, Norfolk, Portsmouth, Newport News and Chesapeake come after Hampton and Suffolk previously approved their FY25 budgets.

Here are some of the highlights:

Virginia Beach

Virginia Beach passed its $2.6 billion FY25 budget on Tuesday in a 10-1 vote, with Councilman Chris Taylor voting no.

The budget includes 30 new full-time positions to help with a Virginia Beach Fire Department that’s been battling staff burnout due to staffing issues/increased overtime shifts.

It also includes a two-cent real estate 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.

About $1.6 million meanwhile will be redirected from the city’s tourism investment program fund (TIP) to the general fund for the creation of the city’s first fund dedicated to supporting arts and culture.

Taylor, who’s one of the five people running for Virginia Beach mayor, didn’t share a reason for voting no in the comment period before Tuesday’s vote.

Read the FY25 budget documents here.

Norfolk

Norfolk City Council voted unanimously to approve its $1.97 billion combined budget and capital spending plan on Tuesday night.

It includes a two-cent real estate tax rate reduction to $1.23 (per $100 in assessed value).

Previous coverage: Norfolk FY25 budget: Renovations for Chrysler Hall, Scope; 2-cent real estate tax rate drop

The budget also calls for 51% in tax relief on personal property taxes for vehicles about $1,000 in assessed value up to $20,000 in assessed value, and 100% tax relief to vehicles assessed at $1,000 or less.

There’s also $60 million in FY25 of the CIP for renovations to Scope and Chrysler Hall, with $150 million in total over the five year CIP for improvements to the venues. There’s also millions in the CIP to continue the city’s Coastal Storm Risk Management project.

Read more about the budget here.

Portsmouth

Portsmouth City Council unanimously approved its $902 million combined fiscal year 2025 budget and capital improvement plan on Tuesday.

The budget includes 3.5% raise for city employees and a 7% raise for teachers. There’s also a 5-cent real estate tax credit, effectively lowering the city’s $1.25 (per $100 assessed value) rate to $1.20 for the year.

And with state funding recently approved that will help with raises for teachers, the city is planning to use the money saved on their end to effectively lower the real estate tax bills by another 2 cents, with other funding to help lessen increases in water/sewer rates.

Previous: Portsmouth’s FY25 budget uses casino revenue to keep real estate tax decrease, fund schools

Newport News and Chesapeake also voted to approve their budgets. You can read them here and here, respectively.

Previous: Chesapeake FY25 budget keeps real estate tax rate, funds raises for city employees, teachers

Previous: Newport News FY25 budget maintains tax rate, fully funds schools request

For the latest news, weather, sports, and streaming video, head to WAVY.com.

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