Hampton holds required public hearing on real estate tax equalized rate of $1.14; residents press for regional action on military tax relief

Hampton's finance committee told the City Council on April 22 that it recommends stabilizing the real estate tax rate at the equalized rate of $1.14 per $100 of assessed value for budget discussions, and City Manager Ponte echoed that recommendation.

Miss Curtis, speaking for the finance committee, summarized the revenue-guideline formula the committee uses to limit real-estate revenue growth and said the committee voted unanimously April 15 to confirm a $1.14 equalized rate for council consideration.

City Manager Ponte explained the public-hearing notice language: state law (Code of Virginia ' 58.1-3321) requires a public hearing when assessment-driven changes make the real-estate tax levy exceed certain thresholds, which can make an advertised item look like an "increase" even when the recommended tax rate is being maintained.

During the hearing Aaron Weaver told council that the maintained rate does not feel like relief to residents because assessed property values have risen and households are paying more in absolute dollars. "While that may be technically no increase, it does not feel like that to people paying bills," Weaver said, and he urged the city to lead coordinated regional action to seek state reimbursement tied to military tax relief that disproportionately affects Hampton and other military-friendly localities.

The mayor closed the public hearing at the end of the single speaker's remarks; no vote on the tax rate was required that night. City staff said they have included advocacy for local impacts of military-connected exemptions in the region's legislative package and will continue working with the delegation and regional partners.

No change to the advertised $1.14 equalized rate was adopted at the meeting; council will use the recommended rate in upcoming budget deliberations.