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<br />AN ORDINANCE TO AMEND AND RE-ENACT ORDINANCE NO. 2014-47 TO <br />IMPOSE AND LEVY TAXES FOR EACH FISCAL YEAR BEGINNING JULY 1, <br />2015 AND ENDING JUNE 30, 2016, ON REAL ESTATE, TANGIBLE PERSONAL <br />PROPERTY, PRIVATELY-OWNED PLEASURE BOATS, PRIVATELY-OWNED <br />` CAMPING TRAILERS AND MOTOR HOMES, AND MACHINERY AND <br />TOOLS WITHIN THE CITY OF PORTSMOUTH, VIRGINIA, FOR THE <br />PURPOSE OF RAISING REVENUE FOR THE SUPPORT OF <br />GOVERNMENTAL OPERATIONS AND THE PUBLIC FREE SCHOOLS AND <br />TO PAY PRINCIPAL AND INTEREST ON THE PUBLIC DEBT. <br />BE IT ORDAINED by the Council of the City of Portsmouth, Virginia: <br />1. That Ordinance No. 2014-47 is re-enacted imposing and levying taxes for <br />the fiscal year beginning July 1, 2015 and ending June 30, 2016, on real estate, tangible <br />personal property, privately-owned pleasure boats, privately-owned camping trailers and <br />motor homes, and machinery and tools within the City of Portsmouth, Virginia, for the <br />purpose of raising revenue for the support of governmental operations and the public free <br />schools and to pay principal and interest on the public debt. <br />2. That the real estate tax rate is amended and reordained to read as follows: <br />Tax on Real Estate <br />(a) Other than public service corporations: <br />The tax on real estate for the City of Portsmouth, Virginia, exclusive of public <br />service corporations, shall be $1.30 on each $100.00 assessed valuation thereof. <br />(b) Public service corporations: <br />The tax on real estate of public service corporations shall be $1.30 on each <br />$100.00 assessed valuation thereof. <br />3. That this ordinance shall take effect on July 1, 2015. <br />ADOPTED by the Council of the City of Portsmouth, Virginia, at a meeting held <br />on May 12, 2015. <br />Teate: <br />City Clerk <br />