Minutes 04/23/2013 - Laserfiche WebLink

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April 23, 2013 Financial Impact: • No material financial impact. Recommended Action: • Adoption of the ordinance amendment is recommended. Vision Principle: Bold New Directions. Next Steps Following Council Action: Manager to sign Agreement. Agreement to be implemented by the Portsmouth Police Department. Motion by Mr. Moody, and seconded by Mr. Meeks, to adopt the following ordinance, and was adopted by the following vote: "ORDINANCE TO AMEND CHAPTER 22 OF THE CODE OF THE CITY OF PORTSMOUTH, VIRGINIA (2006) BY AMENDING SECTION 22-398 THEREOF PERTAINING TO THE OPERATION OF MOPEDS." Ayes: Cherry, Edmonds, Meeks, Moody, Psimas, Randall, Wright Nays: None 13-190- Adoption of an ordinance establishing a Personal Property Tax Relief percentage of 53% for Calendar Year 2013 personal property tax bills. Vision Principle: A Robust Economy for Working Men and Women. Background: • In accordance with the Virginia Personal Property Tax Relief Act (PPTRA), the City is required to annually establish the personal property tax relief percentage to be applied to qualified vehicles. Discussion: • Based on the personal property tax trends in the City of Portsmouth, it was agreed upon by the City Treasurer, the Commissioner of the Revenue, and the City's Chief Financial Officer that 53% is the appropriate percentage of the relief to be applied toward the 2013 personal property taxes. Financial Impact: • The 53% of PPTRA relief proposed for calendar year 2013 is estimated to equal the $9,862,962.29 of relief provided by the state. Staff Recommends: • Adoption of ordinance. Vision Principle: A Robust Economy for Working Men and Woman. Next Steps Following Council Action: • Application of the tax relief credit to personal property tax bills will be performed by the City Treasurer's Office upon adoption of this ordinance. Motion by Ms. Randall, and seconded by Mr. Meeks, to adopt the following ordinance, and was adopted by the following vote: "ORDINANCE ESTABLISHING A PERSONAL PROPERTY TAX RELIEF PERCENTAGE OF 53% FOR CALENDAR YEAR 2013 PERSONAL PROPERTY TAX BILLS." Ayes: Cherry, Edmonds, Meeks, Moody, Psimas, Randall, Wright Nays: None