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AN ORDINANCE TO PROVIDE FOR THE IMPLEMENTATION OF THE • PERSONAL PROPERTY TAX RELIEF ACT OF 1998 WHEREAS the Personal Property Tax Relief Act of 1998, Va. Code §§ 58.1-3523 et seq., as revised (hereinafter, the "PPTRA"), has been substantially modified by the enactment of Chapter 1 of the Acts of Assembly, 2004 Special Session I (Senate Bill 5005), and the provisions of Item 503 of Chapter 951 of the 2005 Acts of Assembly (the 2005 revisions to the 2004-06 Appropriations Act, hereinafter cited as the "2005 Appropriations Act"); and WHEREAS these state legislative enactments require the City of Charlottesville (hereinafter, "City") to take affirmative steps to implement certain changes at the local level, and to provide for the computation and allocation of tax relief provided pursuant to the PPTRA; and WHEREAS said legislative enactments provide for the appropriation to the City, commencing in 2006, of a fixed sum to be used exclusively for the provision of tax relief to owners of qualifying personal -use vehicles that are subject to the personal property tax ("PPT") on such vehicles. NOW THEREFORE BE IT ORDAINED by the Charlottesville City Council that Chapter 30 (Taxation), Article II (Taxation of Tangible Personal Property, Machinery and Tools, Generally) is hereby amended and re-enacted to add a new division (Division 2. • Personal Property Tax Relief), as follows: Division 2. Personal Property Tax Relief. Sec.30-51. Purpose; Definitions: Relation to other Ordinances (a)The purpose of this division is to provide for the implementation of changes to the PPTRA effected by the General Assembly in 2004 and 2005... (b)Terms used in this division that have defined meanings set forth in the PPTRA shall have the same meanings as set forth in Va. Code & 58.1-3523 (c)To the extent that the provisions set forth within this division conflict with any prior ordinance or provision of the Charlottesville City Code the provisions set forth within this division shall control. Sec. 30-52.Method of Computing and Reflecting Tax Relief. (a)For the tax year commencing January 1 2006 and each tax year thereafter, the City hereby elects to compute tax relief as a specific dollar amount to be offset against the total taxes that would otherwise be due, but for PPTRA and the reporting of such specific dollar relief on the tax bill, as authorized by the 2005 Appropriations Act Item 503(E) •