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ORDINANCE NO. 2001-18 <br /> <br />AN ORDINANCE TO RE-ENACT ORDINANCE NO. 2000-9 IMPOSING AND <br />LEVYING TAXES FOR EACH FISCAL YEAR BEGINNING JULY 1ST AND <br />ENDING JUNE 30TH, UNLESS OTHERWISE CHANGED BY COUNCIL, ON <br />REAL ESTATE, TANGIBLE PERSONAL PROPERTY, PRIVATELY-OWNED <br />PLEASURE BOATS, PRIVATELY-OWNED CAMPING TRAILERS AND <br />MOTOR HOMES, AND MACHINERY AND TOOLS WITHIN THE CITY OF <br />PORTSMOUTH, VIRGINIA, FOR THE PURPOSE OF RAISING REVENUE <br />FOR THE SUPPORT OF GOVERNMENTAL OPERATIONS AND THE PUBLIC <br />FREE SCHOOLS AND TO PAY PRINCIPAL AND INTEREST ON THE PUBLIC <br />DEBT. <br /> <br />BE IT ORDAINED by the Council of the City of Portsmouth, Virginia: <br /> <br /> 1. That Ordinance No. 2000-9 is re-enacted imposing and levying taxes for <br />each fiscal year beginning July 1st and ending June 30th, unless otherwise changed herein <br />by Council, on real estate, tangible personal property, privately-owned pleasure boats, <br />privately-owned camping trailers and motor homes, and machinery and tools within the <br />City of Portsmouth, Virginia, for the purpose of raising revenue for the support of <br />governmental operations and the public free schools and to pay principal and interest on <br />the public debt. <br /> <br /> 2. That Paragraph 2 of Ordinance 1995-48. as re-enacted annually <br />subsequent to its adoption, is amended and reordained to read as follows: <br /> <br />Tax on Real Estate <br /> <br />(a) Other than public service corporations: <br /> <br /> The tax on real estate for the City of Portsmouth, Virginia, exclusive of public <br />service corporations shall be one dollar and forty-two cents ($1.42) on each one hundred <br />dollars ($100.00) assessed valuation thereof. <br /> <br />(b) Public service corporations: <br /> <br />The tax on real estate of public service corporations shall be one dollar and forty-two <br />cents ($1.42) on each one hundred dollars ($100.00) assessed valuation thereof. <br /> <br />3. That this ordinance shall take effect on July 1, 2001. <br /> <br /> ADOPTED by the Council of the City of Portsmouth, Virginia, at a meeting held <br />on May 22, 2001. <br /> Teste: <br /> <br />City Clerk <br /> <br /> <br />