Laserfiche WebLink
<br /> <br />2009~45 <br /> <br />*WfO'<flt.$!J~..~~,,_, <br /> <br />AN ORDINANCE TO AMEND CHAPTER 35 OF THE CODE OF THE CITY OF <br />PORTSMOUTH, VIRGINIA (2006) BY AMENDING SECTIONS 35-157 AND 35- <br />171 THEREOF PERTAINING TO EXEMPTION AND PARTIAL EXEMPTION <br />FROM REAL ESTATE TAXES FOR QUALIFIED ELDERLY AND DISABLED <br />PERSONS. <br /> <br />BE IT ORDAINED by the Council of the City of Portsmouth, Virginia: <br /> <br />1, That Sections 35-157 and 35-171 of the Code of the City of Portsmouth, <br />Virginia (2006) be amended and reordained to read as follows: <br /> <br />Sec. 35-157. Authorized. <br /> <br />Subject to the annual appropriation by City Council of funds at least equal to the <br />total cost of such exemptions, real estate tax exemption is hereby authorized for qualified <br />property owners who are not less than 65 years of age or who are permanently and totally <br />disabled, and who are eligible according to the terms of this division, Persons qualifYing <br />for exemption are deemed to be bearing an extraordinary real estate tax burden in relation <br />to their income and financial worth. Should any annual appropriation be less than the <br />total cost of such exemptions, the tax exemption for the subject year shall be applied as a <br />pro rata percentage of the applicable exemption, The pro rata exemption shall be <br />calculated by dividing the appropriated funds by the total cost of the qualified <br />exemptions, <br /> <br />Sec. 35-171. Authorized. <br /> <br />Subject to the annual appropriation by City Council of funds at least equal to the <br />total cost of such exemptions, real estate tax exemption is hereby authorized for qualified <br />property owners who are not less than 65 years of age or who are permanently and totally <br />disabled, and who are eligible according to the terms of this division, Persons qualifYing <br />for exemption are deemed to be bearing an extraordinary real estate tax burden in relation <br />to their income and financial worth. Should any annual appropriation be less than the <br />total cost of such exemptions, the tax exemption for the subject year shall be applied as a <br />pro rata percentage of the applicable exemption, The pro rata exemption shall be <br />calculated by dividing the appropriated funds by the total cost of the qualified <br />exemptions. <br /> <br />2. That this ordinance shall take effect on July 1,2009. <br /> <br />ADOPTED by the Council of the City of Portsmouth, Virginia at a meeting held <br />on May 12, 2009. <br /> <br />Teste: <br /> <br />City Clerk <br />