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)