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ORDINANCE HO- 2006-27 AN ORDINANCE TO AMEND AND RE-ENACT ORDINANCE NO. 2005-33 IMPOSING AND LEVYING TAXES FOR EACH FISCAL YEAR BEGINNING JULY 1ST AND ENDING JUNE 30TII, ON REAL ESTATE, TANGIBLE PERSONAL PROPERTY, PRIVATELY-OWNED PLEASURE BOATS, PRIVATELY-OWNED CAMPING TRAILERS AND MOTOR HOMES, AND !\lACHI~ERY AND TOOLS WITHIN THE CITY OF PORTSMOUTH, VIRGINIA, FOR THE PURPOSE OF RAISING REVENUE FOR THE SUPPORT OF GOVERNMENTAL OPERATIONS AND THE PUBLIC FREE SCHOOLS AND TO PAY PRINCIPAL AND INTEREST ON THE PUBLIC DEBT. BE IT ORDAINED by the Council of the City of Portsmouth, Virginia: I. That Ordinance No. 2005-33 is re-enacted imposing and levying taxes for each tiscal year beginning July 1 st and ending June 30th, unless otherwise changed herein by Council, on real estate. tangible personal property. privately-owned pleasure boats, privately-owned camping trailers and motor homes, and machinery and tools within the City of Portsmouth, Virginia. for the purpose of raising revenue for the support of governmental operations and the public free schools and to pay principal and interest on the public debt. 2. follows: That Section 1 of Ordinance 2005-33 is amended and reordained to read as Tax on Real Estate (a) Other than public service corporations: The tax on real estate for the City of Portsmouth, Virginia. exclusive of public scr\ ice corporations, shall $1.36 on each $100.00 assessed valuation thereof. (bl Public service corporations: The tax on real estate of public service corporations shall be $1.36 on each $100.00 assessed valuation thereof. 3. That this ordinance shall take effect on July I, 2006. ADOPTED by the Council of the City of Portsmouth, Virginia. at a meeting held on April 25, 2006. Teste: City Clerk )