HomeMy WebLinkAboutII. C. FY 2025- 26 RESOURCE MANAGEMENT PLAN ( BUDGET) 5. REAL ESTATE ASSESSOR 4.29.25PROPOSED FY 2025-26 OPERATING BUDGET
City of Virginia Beach
Sue Cunningham, City Real Estate Assessor
Office of the Real Estate Assessor
April 29, 2025
Department Organization Summary
•Total FTEs
•Total FTEs
•Number of Divisions
•Total FY 2024-25 Budget
•Number of Divisions
•Total FY 2024-25 Budget
Total FTEs Number of Divisions Total FY 2025-26 Budget
35 1 $4,317,156
Real Estate Assessor
•Number of FTEs Proposed: (35, currently 2 vacancies)
•Number of Divisions: 1
•Total Proposed Budget $4,317,156
Board of Equalization (Separate Board appointed by Circuit Court Judge)
•5 Members appointed by Circuit Court Judge(s)
•2nd Level of appeal – independent of Real Estate Assessor
•Total Proposed Budget $2,518
2
FY 2025-26 Programmatic Budget
•Total FTEs
•Total FTEs
•Number of Divisions
•Total FY 2024-25 Budget
•Number of Divisions
•Total FY 2024-25 Budget
Personnel,
$3,489,014
Internal
Services,
$359,480
Other Operating Costs,
$468,662
81%
Approx. 51% of REA operating accounts are allocated to (ISF) Charges
3 Largest Operating Expense Categories
Category FY 26 Budget
Software Maintenance (22%)$185,000
Postal Services (11.5%)$95,000
IT Charges (43%)$359,480
REA has no control over escalations in
these expense categories
3
Department Operating Budget Summary
REAL ESTATE ASSESSOR
Program FY2024-25
Adjusted
FY 2024-25
FTE
FY 2025-26
Proposed
FY 2025-26
FTE Change ($)Change (%)
Personnel $3,437,477 35 $3,489,014 35 $51,537 1.5%
Operating $749,127 —$828,142 —$100,318 10.6%
Total $4,186,604 35 $4,317,156 35 $151,855 3.1%
BOARD OF EQUALIZATION
Program FY2024-25
Adjusted
FY 2024-25
FTE
FY 2025-26
Proposed
FY 2025-26
FTE Change ($)Change (%)
Personnel $1,400 N/A $1,400 N/A $0 0%
Operating $1,166 —$1,118 —-$48 -4.1%
Total $2,566 N/A $2,518 N/A -$48 -1.9%
4
Major Changes & Challenges
Changes
•Introduction/training of new analysis technology
•Collaboration with City GIS & PowerBi Teams in effort
to streamline/modernize data collection & analysis
Challenges
•Staffing
•Minimal staffing = struggling to meet essential duties
•Difficulty in hiring experienced personnel
•Aging software
5
Initiatives Underway
•Revenue System Cloud Migration / Modernization
of Assessment & Tax System (TRO/COR/REA)
•Continuing to research means to streamline analysis
& reduce manual data entry to counter
understaffing concerns
•Explore machine learning (AI) opportunities
6
Conclusion
The fair and equitable assessment and collection
of real estate revenue would be in jeopardy without
adequate personnel and modern technology.
We are only able to successfully perform our duties
thanks to City Council’s support and understanding
of what it takes to assess and collect over $842
MILLION in real estate tax revenue.
7
Thank You
City Council
for your
Continued Support