WILLIAMSBURG-Laura Overy, Commissioner of Revenue for the City of Williamsburg was guest speaker during the city’s Economic Development Authority (EDA) monthly roundtable with local businesses. It was the first in-person EDA roundtable since the covid-19 pandemic began.
The focus of the meeting was upcoming increases in taxation for Williamsburg businesses and residents. In June, the City Council approved a new budget, which took effect July 1, that includes a 4-cent hike on the city’s real estate property tax. Debate over the tax increase was heated, particularly from restaurants and businesses who continue to struggle from the fallout of the pandemic.
In addition to the real estate property tax increase, the cigarette tax rate went up from 30 cents per pack to 40 cents. Personal property tax for used vehicles have also increased by 12-15 percent.
Williamsburg continues to work with small businesses through grants impacted by the pandemic.
“Our Economic Development department worked tirelessly to assist our local businesses throughout the covid-19 pandemic, and that work is ongoing,” said Rick Overy, chair of Williamsburg’s EDA board. “The staff’s efforts certainly made a difference in the lives of our business owners and employees, which helps our entire community get through these tough times.”
Williamsburg’s next EDA round table is scheduled for August 10.