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Home More Real Estate

Decision looms on whether to raise real estate tax in Virginia Beach to fund flood protection program

by Trading How
October 8, 2021
in Real Estate
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Decision looms on whether to raise real estate tax in Virginia Beach to fund flood protection program
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Flooding is the norm in Virginia Seaside, however a plan designed by town goals to reduce the chance.

VIRGINIA BEACH, Va. — Flooding is an all-too-common story in Virginia Seaside. That is why town got here up with a plan to hurry up a flood safety program. The caveats? It has a hefty price ticket and it will take a property tax hike to do it.

Flooding on wet – and even sunny – days is the norm on Virginia Seaside roads.

That is why there are 21 tasks unfold out in these six most susceptible areas that should enhance drainage, infrastructure, and even marsh circumstances.

  • Windsor Woods/Princess Anne Plaza/The Lakes 
  • Central Seaside District
  • Chubb Lake/Lake Bradford Space 
  • Linkhorn Bay Drainage Basin 
  • Southern Watershed

This system, in whole, will price roughly $567.5 million. 

“This quantity is meant to speed up the tasks which might be listed in a 10-year program that in any other case would take 40 years,” mentioned Virginia Seaside Deputy Metropolis Supervisor Ron Williams. 

A query on November’s poll asks Virginia Seaside voters whether or not they need to fund the flood mitigations tasks by elevating taxes.

If permitted, the rise would add $10 to $14 extra on property taxes every month for a median worth residence.

Resident Charles Turner advised 13News Now he is torn on how he’ll vote, given the proposed tax hike. 

“Leaning towards paying for it, however probably not positive but,” he mentioned.

Turner recounted the impacts of widespread flooding when Hurricane Matthew hit in 2016.

“It is an actual pickle to me as a result of you understand it is obtained to get achieved, however you have to pay for it one way or the other,” he mentioned.

Acknowledging questions and issues from the neighborhood, metropolis leaders held a flood program information session Thursday night time.

It was additionally one other likelihood for town to go alongside findings from a research.

A report from Outdated Dominion College put issues in an economics perspective.

“The evaluation means that for each greenback you make investments, you keep away from roughly $13 in damages and $19 in whole damages to the financial system of Virginia Seaside,” mentioned Dr. Bob McNab, a professor of economics at ODU. 

The report from ODU additionally regarded on the attainable impression of building. That itself, based on their evaluation, may generate greater than $371 million in financial impression and three,300 jobs within the subsequent decade.

There are extra alternatives for residents to ask their questions concerning the flood mitigation program.

  • Wednesday, October 13, 7 p.m., (digital – click here to join)
  • Saturday, October 16, 10 a.m., (digital – click here to join)
  • Monday, October 25, 5:30 p.m., Meyera E. Oberndorf Central Library, 4100 Virginia Seaside Blvd. 

For extra details about the flood program referendum, you may go to this city webpage. 



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