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13 <br />WHEREAS <br /> , the Personal Property Tax Relief Act of 1998, Virginia Code <br />§§58.1-3523 et seq. (“PPTRA”) requires the City to take affirmative steps to implement <br />changes to the PPTRA and to provide for the computation and allocation of relief <br />provided pursuant to the PPTRA, as revised; and <br /> <br />WHEREAS <br /> , the above-referenced statute provides for the appropriation to the <br />City of Charlottesville of a fixed sum, to be used exclusively for the provision of tax <br />relief to owners of qualifying personal-use vehicles that are subject to personal property <br />taxation; <br /> <br />WHEREAS <br /> , the City of Charlottesville has elected to compute tax relief as a <br />specific dollar amount to be offset against the total taxes that would otherwise be due, but <br />for PPTRA, and the reporting of such specific dollar relief on individual tax bills, as <br />authorized by state law, which requires City Council to annually, by resolution, set the <br />rate of tax relief at a level that is anticipated to fully exhaust the PPTRA relief funds <br />provided by the Commonwealth to the City, and to establish specific criteria for the <br />allocation of the Commonwealth’s payments among the owners of qualifying vehicles; <br /> <br />NOW, THEREFORE, BE IT RESOLVED <br /> by the City Council for the City of <br />Charlottesville THAT qualifying vehicles obtaining situs within the City during the Tax <br />Year commencing on January 1, 2008 shall receive personal property tax relief in the <br />following manner: <br /> <br />? <br /> <br />Qualifying vehicles valued at $1,000 or less will be eligible for 100% tax relief; <br /> <br />? <br /> <br />Qualifying vehicles valued at $1,001 up to $20,000 will be eligible for 52% tax <br />relief; <br /> <br />? <br /> <br />Qualifying vehicles valued at $20,001 or more shall only receive 52% tax relief <br />on the first $20,000 of value; <br /> <br />? <br /> <br />Vehicles which do not meet the definition of a qualifying vehicle shall not be <br />eligible for any form of tax relief under this program; and <br /> <br /> BE IT FURTHER RESOLVED THAT <br /> the City Treasurer shall, in accordance <br />with state law, ensure that on the face of the City’s personal property tax bills there is a <br />general description of the criteria upon which relief has been allocated and that there is <br />set out, for each qualifying vehicle that is the subject of such bill, the specific dollar <br />amount of relief so allocated. <br /> <br /> The meeting was adjourned. <br /> <br />______________________________ _____________________________ <br />President Clerk <br /> <br /> <br />