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Frequently Asked Questions for Fiscal Year Beginning July 1, 2014
Reading the Budget
Where can I see copies of the Operating Budget and the Capital Improvement Budget?
Copies are available at all City libraries.
Can citizens have budget documents for their own personal use?
There aren’t enough copies printed to give a copy to everyone. Citizens may view the documents at the public libraries or at the Budget Office.
Understanding the Budget Document
How can I get a general overview of the budget?
The City Manager’s Message provides a good overview of the budget.
What is the difference between the Operating Budget and the Capital Improvement Budget?
The Operating Budget funds day to day operations and ongoing or recurring expenses. The Capital Budget is for one time expenditures for adding new facilities or roads, or renewal or replacement of existing infrastructure.
What is the total amount of the Operating Budget?
The total amount of the FY 2014-2015 Operating Budget is $923,737,157.
Where does the money come from and where does it go?
Where can I find how much of the City's budget is allocated for Schools and how that is being allocated?
The Schools portion of the Approved Budget is $442.43 million. For details on the how school funds are allocated, call Chesapeake Public Schools Administration at 757-547-0153.
If I need help in locating something in the budgets or in finding out if something is funded, where should I call?
Call the City's Budget Office at 757-382-6158.
The Taxes Citizens Pay
How do I calculate my real estate tax?
The amount of tax you pay is determined by the tax rate applied to your assessed value. The tax rate is set by City council. Based on your Borough definition in the property description, if you are classified mosquito controlled (Mosq) your tax rate is currently $1.05 per $100 of assessed value. If you are in a non-mosquito control (Non-mosq) your tax rate is currently $1.04 per $100 of assessed value.
To determine the annual tax, divide your real estate assessment by 100 and multiply the answer by your tax rate. The result is your yearly tax amount.
How do I calculate my personal property tax?
The current rate for general personal property is $4.08 per $100.00 of assessed value of property. To determine the annual tax, divide your assessment by 100 and multiply the answer by your tax rate. The result is your yearly tax amount.