Virginia 2020 Revenue Lost to Tax Abatement Programs
Click on the name of a program for more details.
|Program Name||Program Type||Revenue Loss|
|Motion Picture Production Tax Credit||Film, TV, and/or media||$7,200,000|
|Retail Sales and Use Tax Data Center||Technology (data center)||$110,500,000|
|TABULATED STATE-LEVEL TOTAL||$117,700,000|
Tabulated localities and districts
Click on the name of jurisdiction for a list of tax abatement programs that reduced its tax revenue.
For Virginia, the estimated reporting rate is as follows:
Cities/counties: 55 out of 241 CAFRs or financial statements we examined provided information on tax abatement programs in accordance with GASB Statement No.77.
School districts: 0 out of 20 CAFRs or financial statements we examined provided information on tax abatement programs in accordance with GASB Statement No.77.
Concerned about the lack of disclosure? Check out the roadmap on GASB 77 compliance we created for VA. You can also get a CSV file of the localities in VA that did not make any tax abatement disclosures in their annual financial reports.
Why is there little or no reporting from school districts?: Virginia's public schools are component units of cities and counties; most do not have separate financial reporting.
The state does not post local financial audits in an online repository.