Virginia: Portsmouth’s budget uses casino revenue to fund schools

Virginia: Portsmouth’s budget uses casino revenue to fund schools

Article brief provided by WAVY-TV
  • Brian Reese, WAVY-TV
March 26, 2024 8:39 PM

Portsmouth’s proposed fiscal year 2025 budget uses $15.8 million in gaming tax revenue from the city’s casino toward several big ticket items.

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That includes $5.2 million toward Portsmouth Public Schools to help pay for 7% raises for teachers and other initiatives and $5.3 million to fund another 5-cent real estate tax credit like last year’s, effectively bringing the city’s rate from $1.30 to $1.25.

The full budget document was released Tuesday by Interim City Manager Lydia Pettis Patton (Portsmouth’s former city manager), who was appointed to the role last week.

The budget also proposes no stormwater utility increases, but continues a scheduled 5% increase in water and sewer usage charges.