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AN ORDINANCE TO A~iEND THE LIOENSE TAX ORDINANCE OF THE CITY OF PORTSMOUTH, 1969, BY ADDING THERETO A NEW SECTION NU}~BER- ED 87.1, IMPOSING A LICENSE TAX ON ENGAGING IN THE BUSII~ESS OF RENTING RESIDENTIAL PROPERTY, INCLUDING HOUSES, APARTMENTS AND DWELLING UNITS, FOR THE LICENSE TAX YEAR BEGINNING }'~Y 1, 1972, ~qD FOR EACH AND EVERY YEAR THEREAFTER BEGINDING WIT}{ MAY 1 OF EACH SUCH YEAR AND ENDING WITH APRIL 30 FOLLOWING. Be it ordained by the Council of the city of Ports- mouth, Virginia: 1. That the License Tax Ordinance of the City of Portsmouth, 1969, be amended by adding thereto a new section numbered 87.1, such new section to read as follows: Section 87.1. Rental of Residential Property. Every person engaged in the business of renting resi- dential property, including houses, apartments and dwelling units shall pay an annual license tax of $50.00 for the first four units and $12.00 for each additional unit in excess of four. For the purposes of this section a person shall not be deemed to be engaged in the business of renting residential property in the City unless such person shall rent four or more such residential units. The business of renting houses, apart- ments or dwelling units as used in Yhis section shall be con- strued to mean the renting of buildings or portions thereof, each designed for residential occupancy as a single dwelling unit by one family but not hotels, motels, mobile home parks, lodging houses or boarding houses for which a license is otherwise required by this ordinance. 2. The taxes imposed by this ordinance shall apply to the license tax year beginning ~4ay 1, 1972, and each and every year thereafter beginning with May 1 of each such year and ending with April 30 following. Adopted by the Council of the City of Portsmouth, Virginia, at a meeting held June 22, 1971. Teste: City Clerk