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.

State: 
Virginia
Reporting Jurisdiction: 
Norfolk
Jurisdiction type
Municipality
Fiscal year ending In: 
2019
Program name: 
Economic Development Program
Program purpose
Business attraction/retention
Statutory authority
City Council, designated to the City Manager
Abating jurisdiction(s)
Norfolk, Virginia
Applicable taxes: 
Personal Property, Real Estate and Business Tangible Property
Method of abatement
Reimbursement
Provisions for recapture
Because taxes are not abated until after the requirements have been made, there is no provisions for recapturing abated taxes
Gross revenue loss
$3,664,052
Reimbursement / offset
$0
Net revenue loss
$3,664,052
Type of loss
Active
Additional notes on dislosure: 
(none)