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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, AND 1991-110, IMPOSING AND
<br />LEVYING TAXES FOR EACH FISCAL YEAR BEGINNING JULY 1ST AND
<br />ENDING JUNE 30TH, UNLESS OTHERWISE CHANGED BY COUNCIL, ON REAL
<br />ESTATE, TANGIBLE PERSONAL PROPERTY, PRIVATELY OWNED PLEASURE
<br />BOATS, PRIVATELY OWNED CAMPING TRAILERS AND MOTOR HOMES, AND
<br />MACHINERY AND TOOLS WITHIN THE CITY OF PORTSMOUTH, VIRGINIA,
<br />FOR THE PURPOSE OF RAISING REVENUE FOR THE SUPPORT OF
<br />GOVERNMENTAL OPERATIONS AND THE PUBLIC FREE SCHOOLS AND TO PAY
<br />PRINCIPAL AND INTEREST ON 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. I986-44, 1987-37, 1988-38,
<br />1989-33, 1990-30, 1991-35, and 1991-110, is re-enacted as
<br />amended herein, imposing and levying taxes for each fiscal
<br />year beginning July 1st and ending June 30th, unless otherwise
<br />changed by Council, on real estate, tangible person property,
<br />privately owned pleasure boats, privately owned camping
<br />trailers and motor homes, and machinery and tools within the
<br />City of Portsmouth, Virginia, for the purpose of raising
<br />revenue for the support of governmental operations and the
<br />public free schools and to pay principal and interest on the
<br />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, and 1991-110, is amended and
<br /> reordained to read as follows:
<br />
<br />Tax on Real Estate:
<br />
<br />(a) Other than public service corpcrations:
<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 ($1.32) on each one hundred
<br />dollars ($I00.00) 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, and 1991-110, is amended and
<br />reordained to read as follows:
<br />
<br />
<br />
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