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Tax Break Tracker Individual Entry

Each individual entry is a single program reported by a single jurisdiction in a given fiscal year. Because we want to track the level and quality of disclosure as well as the content, the values below -- with the exception of program names -- are entered exactly as they are reported. See our user guide for more explanations.

Effected JurisdictionCity of Virginia Beach
Jurisdiction type: Municipality
Fiscal year ending In2019
Program nameTourism Development Financing Program (TDFP) - Cavalier
Program purpose: Tourism development
Statutory authority: VA Code 58.1-3851.1; City Code Chapter 35.4
Abating jurisdiction(s): Virginia Beach, Virginia
Applicable taxesLocal Sales Tax
Method of abatement: Reimbursement
Provisions for recapture: (not specified)
Gross revenue loss: $1,070,896
Reimbursement / offset: $0
Net revenue loss: $1,070,896
Type of loss: Active
Additional notes on dislosure(none)