Minutes 01/24/1995 - Laserfiche WebLink

Home Browse Search

January 24, 1995 WHEREAS, other sources of taxation such as retail sales tax have declined annually since 1989; and WHEREAS, experience demonstrates that elimination of revenues from the State and Federal Goverrnnents shifts the burden to the owners of real estate in the localities to pay for unfunded State and Federal mandates and in the event that BPOL Taxes were eliminated an increase in seventeen cents ($0.17) per one hundred dollars ($100.00) in valuation, on real estate taxes would be required to maintain the City's current level of services, refleCting an increased real estate tax rate from one dollar thirty-two cents ($1.32) to one dollar forty-nine cents ($1.49) per hundred dollars of valuation; and WHEREAS, local governments are ill-equipped financially to make up shortfalls caused by declines in State and Federal assistance and the elimination of sources of taxation, NOW, THEREFORE, BE IT RESOLVED that the Council of the City of Portsmouth, Virginia, opposes the elimination of Business, Professional and Occupation License Taxes and foresees the direct result of the proposed elimination as forcing an increase in local real estate tax to maintain the delivery of municipal services at the current level. The Council further anticipates that such phase out will inevitably create a greater hardship on fiscally stressed central cities and their citizens. BE IT FURTHER RESOLVED that the Council of the City of Portsmouth, Virginia, calls upo~ the Members of the Virginia General Assembly to exert every effort to oppose the proposed phase out and elimination of Business, Professional and Occupation License Taxes. This resolutionlshall be conveyed to the Members of the Hampton Roads Caucus of the Virginia General Assembly. That this resolution shall take effect on the date of its adoption." Ayes: Clemons, Griffin, Hawks, Martin, Pitts, Robinett, Webb Nays: None 95-43 Letter from the City Manager recommending adoption of a resolution endorsing an ISTEA Enhancement Grant to fund the re-establishment of the historic ferry landing at the foot of High Street. "Your adoption of a project endorsement resolution for an ISTEA Enhancement Grant to fund the re-establishment of the historic ferry landing at the foot of High Street is recommended. The ISTEA Grant deadline is January 31, 1995. Existence of a ferry landing at this location dates back to at least 1651. The million dollar grant request would consider funding for ferry landing construction and reconstruction of the ferry station facade. A twenty percent (20%) match will be required, if the city is awarded the grant. As information, this project would complement the "Vision 2005" strategy presently under consideration, I, therefore, recommend that you favorably consider resoluti°n for project endorsement and for the grant application." this