Norfolk council approves real-estate tax hike, millions more for schools
On Tuesday night, the
Councilmen
"I'm worried about residents who are on a shoe-string budget or my elderly constituents on a fixed income," Smigiel said.
The budget also increases many fees and adds
All will go into effect
What the city gets for all that:
Growing debt payments, retirement costs and insurance expenses also weighed on the city's budget this year. The approved budget also includes cuts to 82 city jobs.
The city's first real estate tax hike in five years will bring the rate to
The increases on the cigarette and hotel bed taxes were not included in City Manager
The council also unanimously approved a brand new school funding formula, aimed at making the schools' share of the annual budget predictable and objective -- and to help stave off the annual budget battle between the schools and the city. That was on full display at this year's budget public hearing, when teachers and schools advocates flooded the auditorium at
The formula sets the local funding rate at 29.55 percent of the city's income, which this year amounts to nearly
Since it's a percentage, the schools allocation will go up and down every year based on how much the city brings in.
Cities including
___
(c)2018 The Virginian-Pilot (Norfolk, Va.)
Visit The Virginian-Pilot (Norfolk, Va.) at pilotonline.com
Distributed by Tribune Content Agency, LLC.
Mudslide damage ‘unbelievable,’ insurance commissioner says
Court: Canton firefighter’s death will remain a suicide
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News