Suffolk
Real Estate
Lake Thrasher Landing will bring 1,400 new housing units to Chesapeake over next decade
CHESAPEAKE — A new mixed use development replacing an existing landfill on Lake Thrasher Parkway will bring more than 1,400 housing units to the city’s Greenbrier area over the next decade. The Thrasher family has been contemplating the project for years; it will be at 1217 Lake Thrasher Parkway, adjacent to the new Lake Thrasher community off Elbow Road. The development — Lake Thrasher Landing ...
Suffolk’s Cotton Rose Farm set to be auctioned
Hall and Hall Auctions announced the May 15 auction of Cotton Rose Farm, 363± acres of prime development land in Virginia’s Tidewater. The farm, is located at 4124 Mockingbird Lane, at the intersection of Matoaka Road and Mockingbird Lane, seven miles north of downtown Suffolk. The property is situated with convenient access to the retail […] The post Suffolk’s Cotton Rose Farm set to be auctioned appeared first on The Suffolk News-Herald.
Norfolk residents say they want bigger real estate tax cut, more wage increases in 2025 budget proposal
NORFOLK — Residents who attended a Wednesday public hearing expressed overall approval for the city budget proposed for 2025, but called for increased spending on public workers’ wages and further decreasing the real estate tax rate. The budget, presented by City Manager Pat Roberts in March, includes a $1.53 billion operating budget and a $323 million capital improvement plan. The total $1.9 ...
Chesapeake homeowners: Your real estate tax bill could increase under the proposed rate
CHESAPEAKE — Homeowners may see higher real estate tax bills this year as overall assessments grew by a little more than 4% citywide since last year. City Council is responsible for setting tax rates. With the increased assessments, a 4-cent reduction would be needed to offset. For years, Chesapeake levied a real estate tax rate of $1.05 per $100 of assessed value until the last two fiscal ...
Part of Isle of Wight County lake for sale
A 5-7% slice of Lake Tormentor can be yours for the right price. It’s not lakefront land or a house that Isle of Wight County is selling at auction for nonpayment of real estate taxes. It’s the lake itself. According to the county’s GIS map, over 98% of the 5-acre Days Point Road parcel is […]
New York City-based development firm buys 4 historic properties in downtown Portsmouth
Tim Foley believes in the potential of downtown Portsmouth. So much so that the principal owner of Lightwell Development, a New York City-based real estate development firm focused on historic tax credit renovation work, invested in four properties in the city totaling $15 million. “I think Portsmouth is so overdue for this type of expansion and this type of product,” Foley said. Foley grew up ...
Isle of Wight proposing $108.9 million budget, 5-cent real estate tax increase
Isle of Wight County Administrator Randy Keaton’s proposed $108.9 million budget for the 2024-25 fiscal year calls for a 5-cent increase in the county’s real estate tax rate. County supervisors reduced the rate in 2023 from 85 cents per $100 in assessed value to the current 71-cent rate to lessen the increase homeowners would see […]
Suffolk explores reduction in real estate tax rate in proposed 2024-2025 budget
In a vote of 8 to 0, Suffolk City Council approved a motion to have the city manager amend the real estate tax rate in the proposed 2024-25 budget. The proposed budget did not include a change to the $1.09 rate. However, councilman Roger Fawcett motioned to reduce the rate to $1.07. The reduction would […] The post Suffolk explores reduction in real estate tax rate in proposed 2024-2025 budget appeared first on The Suffolk News-Herald.
It’s essential to note our commitment to transparency:
Our Terms of Use acknowledge that our services may not always be error-free, and our Community Standards emphasize our discretion in enforcing policies. As a platform hosting over 100,000 pieces of content published daily, we cannot pre-vet content, but we strive to foster a dynamic environment for free expression and robust discourse through safety guardrails of human and AI moderation.