Hampton extends some relief on personal property taxes, but bills still expected to rise

Hampton, Virginia is giving some relief on personal property taxes in 2021, but residents are still expecting to pay more. The city council has approved a new tax rate of $1.24 per $100 of assessed value for real estate, and $4.53 per $100 for personal property taxes. This is slightly lower than last year’s rate, but due to increased property values, most residents will still see an increase in their bill.

This news caught my attention because property taxes are a major concern for many homeowners, and it’s interesting to see how local governments are adapting to the economic challenges facing their communities. According to city officials, the new tax rate will generate an additional $2.2 million in revenue for local services like schools and public safety.

Additionally, the city is offering relief for cars, trucks, and motorcycles with a lowered tax rate of $3.56 per $100 of assessed value, down from $4.20 the previous year. The city is also extending the deadline to pay taxes without penalty until October 15th, giving residents more time to adjust to the changes.

Overall, while some relief is being offered, residents in Hampton will likely still see an increase in their property tax bills. It’s important to stay informed about local tax rates and how they impact your community, and to voice any concerns or questions to local officials. By doing so, residents can help ensure fair and effective use of their tax dollars.