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AN ORDINANCE TO AMEND AND RE-ENACT ORDINANCE NO. 1985-39, AS
<br />AMENDED AND RE-ENACTED BY ORDINANCES NO. 1986-44, 1987-37,
<br />1988-38, 1989-33, 1990-30, 1991-35, 1991-110, 1992-28, AND
<br />1993-25, IMPOSING AND LEVYING TAXES FOR EACH FISCAL YEAR
<br />BEGINNING JULY lST AND ENDING JUNE 30TH, UNLESS OTHERWISE
<br />CHANGED BY COUNCIL, ON REAL ESTATE, TANGIBLE PERSONAL
<br />PROPERTY, PRIVATELY OWNED PLEASURE BOATS, PRIVATELY OWNED
<br />CAMPING TRAILERS AND MOTOR HOMES, AND MACHINERY AND TOOLS
<br />WITHIN THE CITY OF PORTSMOUTH, VIRGINIA, FOR THE PURPOSE OF
<br />RAISING REVENUE FOR THE SUPPORT OF GOVERNMENTAL OPERATIONS AND
<br />THE PUBLIC FREE SCHOOLS AND TO PAY PRINCIPAL AND INTEREST ON
<br />THE PUBLIC DEBT.
<br />
<br /> BE IT ORDAINED by the Council of the City of Portsmouth,
<br />Virginia:
<br />
<br /> 1. That Ordinance No. 1985-39, as amended and
<br />re-enacted by Ordinances No. 1986-44, 1987-37, 1988-38,
<br />1989-33, 1990-30, 1991-35, 1991-110, 1992-28, and 1993-25, is
<br />re-enacted as amended herein, imposing and levying taxes for
<br />each fiscal year beginning July 1st and ending June 30th,
<br />unless otherwise changed by Councilr on real estate, tangible
<br />persoaal property, privately owned pleasure boats, privately
<br />owned camping trailers and motor homes, and machinery and
<br />tools within the City of Portsmouth, Virginia, for the purpose
<br />of raising revenue for the support of governmental operations
<br />and the public free schools and to pay principal and interest
<br />on the public debt.
<br />
<br /> 2. That Paragraph 2 of Ordinance No. 1985-39 as amended
<br />and re-enacted by Ordinances No. 1986-44, 1987-37, 1988-38,
<br />1989-33, 1990-30, 1991-35, 1991-110, 1992-28, and 1993-25, is
<br />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,
<br />Virginia, exclusive of public service corporations shall be
<br />one dollar and thirty-two cents ($1.32) 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
<br />shall be one dollar and thirty-two cents ($1.32) on each one
<br />hundred dollars ($100.00) assessed valuation thereof.
<br />
<br /> 3. That Paragraph 3 of Ordinance 1985-39, as amended
<br />and re-enacted by Ordinances No. 1986-44, 1987-37, 1988-38,
<br />1989-33, 1990-30, 1991-35, 1991-110, and 1992-28, is amended
<br />and reordained to read as follows:
<br />
<br />
<br />
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