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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 In2022
Program nameYes Oceana APZ-1 Incentives
Program purpose: Business attraction/retention/expansion
Statutory authority: Virginia Code 58.1-3220.1 and 58.3221; Ordinance No. 2786, 9-23-03; Ordinance No. 2932, 3-28-06; Virginia Beach Code 35-72.1,35,2-11
Abating jurisdiction(s): Virginia Beach
Applicable taxesReal Estate Tax; Business License Tax and Fees
Method of abatement: Tax Rebate
Provisions for recapture: (not specified)
Gross revenue loss: $74,748
Reimbursement / offset: $0
Net revenue loss: $74,748
Type of loss: Active
Additional notes on dislosure(none)
Document sourcehttps://s3.us-east-1.amazonaws.com/virginia-beach-departments-docs/finan...