Minutes 04/26/2005 - Laserfiche WebLink

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April 26. 2005 BE IT FURTHER RESOLVED that the City Council extends its gratitude to the Planning Commission, the Citizens 2025 Committee that guided the Plan's development, and all other citizens and city staff involved in the Plan's creation for their extensive time and efforts contributed to the production of this significant and valuable document." Ayes: Heretick, Moody, Psi mas, Randall, Smith, Whitehurst, Holley Nays: None 05 - 168 - Adoption of an ordinance amending Chapter 35 of the Code of the City of Portsmouth, Virginia (1988) by establishing a procedures for the granting of tax-exempt status to qualified non-profit organizations. Deferred from the April 12, 2005 City Council meeting. This ordinance will establish a process by which the City may grant exemption from real estate and/or personal property taxes to qualified non-profit organizations. Changes in State law have transferred that power from the Commonwealth to localities. Vision Principle: Neighborhood and Community Transformation. Recommendation: . Adoption of an ordinance amending Chapter 35 of the Code of the City of Portsmouth, Virginia (1988) by establishing a procedure for the granting of tax-exempt status to qualified non-profit organizations. Summary: . This ordinance will establish a process by which the City may grant exemption from real estate and/or personal property taxes to qualified non-profit organizations. Changes in State law have transferred that power from the Commonwealth to localities. Purpose and Need: . The General Assembly in 2003 amended Title 58.1-3651 of the Constitution and the Code of Virginia to permit local governing bodies to determine eligibility for tax- exempt status by designation within their own localities. . The City Assessor has traditionally determined eligibility for tax-exempt status by classification, forwarding those applications for tax-exempt status by designation to the General Assembly following action by the City Council. . With approval of this ordinance, the City Assessor will have the authority to classify and designate organizations as being exempt from real and personal property taxes within the City of Portsmouth. . An appeals process will be available to applicants who are not in agreement with the classification and designation of the City Assessor. . This item contributes to the City Council's vision principle of "A Robust and Prospering Economy." Financial Impact: . The financial impact is undetermined. It is not anticipated that applications will increase due to adoption of the ordinance.