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Virginia Beach Proposes $2.9 Billion Budget with Personal Property Tax Relief
The budget includes funding for workforce, capital projects, and maintenance, as well as tax relief for vehicle owners.
Mar. 28, 2026 at 12:49pm
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The City of Virginia Beach has proposed a $2.9 billion operating budget for the upcoming fiscal year, a 3.27% increase over the previous year. The budget includes a personal property tax credit of up to $80 per vehicle, as well as investments in the city's workforce, capital projects, and maintenance backlogs. Real estate assessments are growing by 6%, but nearly half of that growth will help cover veteran and senior tax relief programs.
Why it matters
The proposed budget aims to provide tax relief to residents, particularly vehicle owners, while also addressing the city's workforce, infrastructure, and maintenance needs. This reflects the city's priorities of supporting its community and investing in its long-term sustainability.
The details
The budget includes a 10.1% personal property tax relief credit applied to the first $20,000 in assessed value for vehicle owners, which will result in a maximum credit of $80 per vehicle. The city will forgo $12.8 million in revenue to provide this tax relief. Additionally, the budget includes funding for capital projects such as the renovation of the Great Neck Recreation Center, designs for the Bayside and Princess Anne recreation centers, and improvements to the resort area parking. The budget also provides for a 3.5% pay increase for city employees and a 15% increase in the employer contribution for health insurance.
- The proposed budget covers the fiscal year beginning in July 2026.
- The City Council will hold two public hearings on the budget before voting on it on May 12, 2026.
The players
Virginia Beach City Council
The governing body of the City of Virginia Beach that is responsible for approving the city's budget.
Kevin Chatellier
The Budget Director for the City of Virginia Beach who provided details on the proposed budget.
Joash Schulman
A Virginia Beach City Council member who expressed support for the personal property tax relief in the proposed budget.
What they’re saying
“Several councilmembers have been asking 'to provide tax relief to those people who need it the most including our renters, our single parents, our young people trying to find housing, our workforce, and the personal property tax (credit) will hit more people.'”
— Joash Schulman, Virginia Beach City Council member
What’s next
The City Council will hold two public hearings on the budget before voting on it on May 12, 2026.
The takeaway
The proposed Virginia Beach budget aims to balance the needs of the community by providing personal property tax relief to residents while also investing in the city's workforce, infrastructure, and maintenance. This reflects the city's commitment to supporting its residents and ensuring long-term sustainability.
