Five cents is proposed real estate rate reduction

Local, Norfolk 1 Minute

Tonight, Norfolk City Manager Regina Williams will be presenting the budget to council. The budget includes a 5-cent reduction in the real estate tax rate, from the current $1.35 to $1.30 per $100 of assessed value. The $1.1 billion budget is 6.1% higher than last year’s.

According to Williams, real estate taxes account for only 23% of the city’s revenues. I took a look at last year’s budget and verified that projected real estate revenues of $166,482,800 ($149,314,500 of that is current) do indeed represent only 23% of the general fund projected revenues of $726,401,200. (Perusing the budget is always fun – look at all those fees the city collects. I think it’s true that Norfolk taxes everthing possible.) Doing a little math on the figure shown as current real estate taxes, it looks like the city stands to collect about $35 million in additional revenues, based on the average increase of 28.5% reported earlier. (I calculated current real estate tax revenues to be $184,762,868.)

If you think this is unacceptable, then plan to attend the public hearing on May 8. Today’s ad for this hearing is telling – an effective increase of 17.9%!

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4 thoughts on “Five cents is proposed real estate rate reduction”

  1. If I read this right, this so called “reduction” will actually result in an INCREASE (because this reduction is still HIGHER then the State law permitted). With a $255K house this will mean an approx $456 INCREASE per year (18 cents per $100!!) about a next year in my tax liability! I’m not a math wiz so my numbers could be off but sheeeeeesh! Why are these people still representing us on the City Council? Do they all just do what they want regardless of the constituency? AND what are they doing with this windfall? Is public transportation improving? Are city workers getting an increase in pay? Are services for the poor getting better? Are they making grants to local non-profits so they can improve the quality of services they are providing?

  2. Do they all just do what they want regardless of the constituency?

    Simple answer: yes. Council has rarely been held accountable for their actions. Take a look at this article, which starts with:

    Rare is the time when a challenger defeats a City Council incumbent in this city – it has happened just twice in 30 years.

    I place the blame squarely at the feet of the citizenry, which doesn't go out and vote. And, let's face it, rare is the case when we have qualified candidates running against incumbents. Politics has become a bad word and few are willing to step up to run. The idea that politics is public service has just been lost.

  3. This is a shame! Norfolk is a beautiful city but it seems clear to this outsider that the political process has been co-opted by business interests and public/private relationships with the city officials hired to look out for all of our best interests!. When I was stationed here 12 years ago downtown was a shame. Today it’s a great place to go but from Park Place to Lamberts Point and elsewhere, where are the NEIGHBORHOOD improvements (besides Ghent)? They have not kept pace with the improvements in the business districts! It seems what ever improvements are being considered are based on business interests. This is a mistake. It will lead to gentrification and poor Blacks being forced out of homes they have lived in for decades! How much (in dollars) has city government given up for how many years in the future so downtown can be built up? Tax breaks are important for business interests but the corollary seems to have happened here… property assessments have gone through the roof. This says the improvements have been and are taking place on the backs of those least able to afford it!

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