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Residents press council on rising bond debt as levy pressure grows

Virginia City Council ยท October 29, 2025

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Summary

At the public forum Greg Lindsey and other residents warned that multiple overlapping municipal bonds and rating downgrades are raising property tax pressures. Council members said they recognize the issue, will discuss it in the upcoming budget process, and cautioned about tradeoffs between debt service and infrastructure needs.

At the Oct. 28 public forum, resident Greg Lindsey presented a list of the city's outstanding bonds and warned that overlapping debt service is driving a near-double-digit levy increase without immediate signs the burden will ease.

"This debt is driving our levy," Lindsey said, listing multiple bond issues and saying the city's bond rating fell after 2020 bond issuances. He estimated that, "if you 0 out your general fund, no increase at all, this is gonna go up, 9.66%" to cover debt service (Greg Lindsey, resident).

Mayor and councilors acknowledged the history of bonds preceding the current council and said managing bond debt must be balanced against maintaining infrastructure and public safety services. The mayor told Lindsey and other commenters that the council will continue discussion at the special budget meeting set for 7:30 a.m. Nov. 4 and at upcoming budget committee sessions.

Several residents also said rising property taxes are discouraging new homebuilding and straining fixed-income households. Resident Carrie Waski Colli said her homestead taxes rose 39% from 2023 to 2024 and urged council leadership to "change the trajectory" of the city's finances so residents and businesses will continue to invest locally (Carrie Waski Colli, resident).

Councilors and staff repeatedly framed the issue as a mix of legacy bond obligations and current investment needs, noting some debt will drop off in the near term but larger decisions about bonds and services will be discussed in the budget process.

No formal policy decision was made at the Oct. 28 meeting; council scheduled a budget meeting for Nov. 4 to continue the discussion.