Newport News proposes eliminating sales and property taxes to attract business

Newport News City Council members are advocating for a bold approach to stimulate local business growth by proposing significant tax reforms. During the meeting on February 25, 2025, a council member emphasized the need to reduce the tax burden on residents and businesses, suggesting the elimination of sales tax and personal property taxes as a means to foster a more business-friendly environment.

The council member argued that lowering taxes could be a game changer for Newport News, stating, "There's only so much money that can be taxed before it becomes ruinous." Instead, they proposed focusing on generating passive income through savings, which could provide a more sustainable financial model for the city without cutting essential services.

While acknowledging that these changes would not yield immediate results, the council member stressed the importance of long-term planning to create a thriving economic landscape. The discussion reflects a growing recognition among city leaders of the need to adapt fiscal policies to better support local businesses and attract new investments.

As Newport News continues to explore these tax reform ideas, the council's commitment to fostering a pro-business climate could lead to significant changes in the city's economic strategy in the coming years.