Title
Ordinance to Adopt the Tax Rates Applicable to Real Estate and Improvements Thereon in the City of Hampton, Virginia for Fiscal Year 2027 Beginning July 1, 2026 and Ending June 30, 2027
Purpose
PURPOSE/BACKGROUND:
This ordinance adopts the general tax rate applicable to any and all real property and improvements thereon throughout the entire City of Hampton, Virginia, including Fort Monroe and the U. S. Government Reservations of Langley Field and the Kecoughtan Veterans Hospital, as presented in the City Manager's Recommended Budget for Fiscal Year 2027. In addition, it incorporates the adoption of a higher tax rate for certain properties classified as blighted property in accordance with Code of Virginia Sec. 58.1-3221.6.
Discussion:
The ordinance adopts the general tax rate applicable to any and all real property and improvements throughout the entire City of Hampton, Virginia, including Fort Monroe and the U. S. Government Reservations of Langley Field and the Kecoughtan Veterans Hospital, except for those certain blighted properties. It imposes a general tax rate of $1.14 per $100 of assessed value, which maintains the current real estate tax rate.
In addition, it imposes a higher tax rate on certain blighted properties. Code of Virginia Sec. 58.1-3221.6 provides that localities satisfying the criteria set forth therein may impose a rate on blighted properties that is up to five percent (5%) greater than that imposed on the general class of real property. The higher rate to be imposed on blighted properties is $1.20 per $100 of assessed value. For this purpose, blighted property is statutorily defined as: " Any individual commercial, industrial, or residential structure or improvement that endangers the public's health, safety or welfare because the structure or improvement is dilapidated, deteriorated, or violates minimum health and safety standards; or any structure or improvement previously designated as blighted under the process for ...
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