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: 
Virginia Beach
Jurisdiction type
Municipality
Fiscal year ending In: 
2019
Program name: 
Tourism Development Financing Program (TDFP) Cavalier
Program purpose
Financing
Statutory authority
VA Code 58.1-3851.1; City Code Chapter 35.4
Abating jurisdiction(s)
Virginia Beach, Virginia
Applicable taxes: 
Local 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)