Your Affordability F.R.I.E.N.D.
TAX RELIEF is necessary. Citizens tell me they want solutions to increasing Personal Property taxes and the spike in Real Estate assessments due to current high inflation—that could hike taxes on citizens and homeowners.
I am listening and hear citizens concerns—I will work to REFUND 50% of the end FY-22
Budget Surplus to Citizens
FINANCIAL ISSUES | DISTRICT 8
Taxes - TAX RELIEF
Citizens are telling me they want the escalation of taxes by VBGOV to be curbed. I will work to REFUND 50% of the FY-22 Budget Surplus to VB citizens.
After two years of the pandemic Citizens are saying they don't have extra money for additional VBGOV spending and taxes.
A comprehensive review of all the VBGOV bills needs to be done so there are priorities and no shortfalls.
An extra $54 million in spending was recently approved by City Council on February 3, 2022. This was before the City's total expenses and the salary compensation had been reviewed.
Post Pension Liabilities on VBGov.com
Citizens are not informed that the Pension debt liabilities and Retiree Healthcare have grown to $1.5 Billion. Truth In Accounting identified the shortfall that Pensions / Retiree benefits have not been fully funded. This involves both the City Pensions and Schools Pensions.
Online Financial Scorecard
Citizens want to know how VBGOV spends tax dollars!
What is the total "debt service" interest paid on bonds/ VBGOV borrowing?
How close is VBGOV to the maximum borrowing limits?
How much of the tax spending happens in each of the Districts?
Other Cities have online Financial Scorecards, so Citizens know where their Cities are making progress. Virginia Beach needs to be equally transparent.
With median Household Incomes only increasing 0.6% to 0.8% since 2010, Citizens are sensitive to tax increases.