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1. In concurrence with the Commissioner of the Revenue of the City of Portsmouth, <br />Virginia, and in accordance with Code of Virginia §58.1- 3503(B), an assessment ratio of seventy - <br />five percent (75%) shall be applied to all those automobiles valued by the Commissioner of the <br />Revenue in accordance with Code of Virginia §58.1- 3503(A)(3), and trucks valued in accordance <br />with Code of Virginia §58.1- 3503(A)(4). <br />2. The assessment ratio adopted herein shall apply solely to qualifying assessments <br />for the calendar tax year beginning January 1, 2022, and no other. <br />ADOPTED by the Council of the City of Portsmouth, Virginia, at a meeting held on March <br />22, 2022. <br />Teste: <br />City Clerk <br />