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(b)The City Council shall annually, by resolution, set the rate of tax relief at such a level that <br />• it is anticipated fully to exhaust the PPTRA relief funds provided to the City by the <br />Commonwealth. <br />(c)Personal property tax bills shall set forth on their faces the specific dollar amount of relief <br />credited with respect to each qualifying vehicle, together with an explanation of the general <br />manner in which relief is allocated. <br />Sec. 30-53. Allocation of Relief among Taxpayers. <br />(a)Allocation of PPTRA relief among taxpayers shall be provided in accordance with the <br />general provisions of this section, to be implemented annually by the City. <br />(b)Relief shall be allocated by the City in such as manner as to eliminate personal property <br />taxation of each qualifying vehicle with an assessed value of $1,000 or less. <br />(c)Relief with respect to qualifying vehicles with assessed values of more than $1,000 shall be <br />provided at a rate, annually fixed by the City and applied to the first $20,000 in value of each <br />such qualifying vehicle, that is estimated fully to use all available state PPTRA relief. <br />Sec.30-54. Transitional provisions. <br />(a)Pursuant to authority conferred in the 2005 Appropriations Act, Item 503(D), the City <br />• Treasurer is authorized to issue a supplemental personal property tax bill, in the amount of <br />one hundred percent (100%) of the tax due, without regard to any former entitlement to state <br />PPTRA relief, plus applicable penalties and interest, to any taxpayer whose taxes, with <br />respect to a qualifying vehicle for tax year 2005 or any prior tax year, remain unpaid on <br />September 1, 2006, or such date as state funds for reimbursement of the state share of such <br />bill have become unavailable, whichever earlier occurs. <br />(b)Penalty and interest with respect to bills issued pursuant to subsection (a) of this section <br />shall be computed on the entire amount of tax owed. Interest shall be computed at the rate <br />provided in &30-5 of the City Code, from the original due date of the tax. <br />Approved by Council <br />November 7, 2005 <br />of City Council <br />0 <br />