Minutes 04/11/2017 - Laserfiche WebLink

Home Browse Search

April 11, 2017 At a Regular Meeting of the City Council on Tuesday, April 11, 2017, there were present: Mayor John L. Rowe, Jr., Vice Mayor Paige D. Cherry, William E. Moody, Jr., Elizabeth M. Psimas, Dr. Mark M. Whitaker, Nathan J. Clark, Lisa L. Lucas-Burke, City Manager Dr. L. Pettis Patton, City Attorney Solomon H. Ashby, Jr. Reverend Dr. Johnnie Drake opened the meeting with prayer, which was followed by the Pledge of Allegiance to the Flag. Mayor Rowe called the meeting to order and welcomed all in attendance. Motion by Mr. Moody, and seconded by Ms. Psimas, to approve the minutes of a Called Meeting of March 27, 2017, of a Called Meeting of March 28, 2017, and of a Regular Meeting of March 28, 2017, and was adopted by the following vote: Ayes: Cherry, Clark, Lucas-Burke, Moody, Psimas, Whitaker, Rowe Nays: None Presentation:  Recognizing our Young Stars of Tommorrow: Aziyah Heru. - City Manager’s Report - 17 - 165 - Adoption of an ordinance establishing a personal property tax relief percentage of 53% for calendar year 2017 personal property tax bills. 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.  The 2005 revisions to the Personal Property Tax Relief Act of 1988 (“the 2005 Amendments”) modified the method of state reimbursement for personal property tax relief from a variable percentage to a fixed sum of money payable to each locality.  The 2005 Amendments and Section 35-9 of the Portsmouth City Code require that the city annually establish a personal property tax relief percentage such that the total relief provided to qualifying taxpayers will exhaust the funds to be allocated to the locality by the Commonwealth. Discussion:  With the assistance of the City Treasurer and the Commissioner of the Revenue, a personal property tax relief percentage of 53% has been calculated as sufficient to exhaust the state funds expected to be allocated to the city of Portsmouth for calendar year 2017. Financial Impact:  Adoption of the 53% rate will have minimal impact on the city’s revenue budget. Recommended Action:  Adoption of the ordinance. 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. Lucas-Burke, and seconded by Mr. Moody, to adopt the following ordinance, and was adopted by the following vote: