The largest driver of Williamsburg’s economy is tourism. This industry gets the credit for keeping the real property tax rate in the City at one of the lowest in the Commonwealth of Virginia. The industry employs thousands and supports all of the quality of life we enjoy as residents. However, since the mid-1990’s we have seen a significant decline in visitation which results in fewer jobs, less tax revenue, and a reduction in programming.
It is difficult to credit one national trend or action for this reduction so we will not speculate. The community has spent years talking about the decline and trying to address it. However, ultimately every corrective action depends on additional revenue to add reasons for visiting Williamsburg, for advertising new and interesting events or activities, and for creating a place that people want to visit and remember.