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AN ORDINANCE TO AMEND CHAPTER 20 OF THE CODE OF THE CITY OF <br />PORTSMOUTH, VIRGINIA, 1988, BY AMENDING SECTION 20-81(b) <br />THEREOF, PERTAINING TO RENTAL SALES AND SHORT-TERM RENTALS. <br /> <br /> BE IT ORDAINED by the Council of the City of Portsmouth, <br />Virginia: <br /> <br /> 1. That Section 20-81(b) of the Code of the City of <br />Portsmouth, Virginia, 1988, be amended to read as follows: <br /> <br />Section 20-81. Retail sales and short-term rentals. <br /> <br /> (b) Any person engaged in the short-term rental business <br />shall pay a business license tax of fifty dollars ($50.00) on <br />the first five thousand dollars ($5,000.00) of gross receipts <br />and twenty cents (S0.20) on each additional one hundred <br />dollars ($100.00) of gross receipts. A person is engaged in <br />the short-term rental business if not less than eighty (80) <br />percent of the gross rental receipts of such business in any <br />year are from transactions involving rental periods of <br />ninety-two (92) consecutive days or less, including all <br />extensions and renewals to the same person or a person <br />affiliated with the lessor. "Affiliated," for purposes of <br />this Code, shall mean any common ownership interest in excess <br />of five (5) percent of any officers or partners in common with <br />the lessor and lessee. For purposes of this test, any rental <br />to a person affiliated with the lessor shall be treated as <br />rental receipts but shall not qualify for purposes of the <br />eighty (80) percent requirement, and any rental of personal <br />property which also involves the provision of personal <br />services for the operation of the personal property rented <br />shall not be treated as gross receipts from rental. For the <br />purpose of this Code, the delivery and installation of <br />tangible personal property shall not mean operation. For the <br />purpose of this Code, "daily rental property" means all <br />tangible personal property held for rental and owned by a <br />person engaged in the short-term rental business, except <br />trailers as defined in Section 46.2-100 of the Code of <br />Virginia and other tangible personal property required to be <br />licensed or registered with the department of motor vehicles, <br />the department of game and inland fisheries or the department <br />of aviation. <br /> <br /> 2. That this ordinance shall take effect on July 1, <br />1992. <br /> <br /> Adopted by the Council of the City of Portsmouth, <br />Virginia, at a meeting held on June 23, 1992. <br /> <br />Teste: <br /> <br />City Clerk <br /> <br /> <br />