Real estate levies in Virginia Beach constitute a crucial source of funding for local government services. These assessments on land and buildings support essential public services such as schools, libraries, public safety, and infrastructure maintenance. For example, a homeowner’s annual payment contributes directly to the operational budget of the city.
Stable and predictable revenue generated through these real estate assessments ensures the consistent delivery of vital community resources. This financial foundation allows for long-term planning and investment in projects that enhance the quality of life for residents. Historically, these locally-controlled levies have played a significant role in shaping the development and growth of the city.