Minutes 04/11/2023 - Laserfiche WebLink

Home Browse Search

April 11, 2023 Background:  The Commonwealth’s Attorney’s Office received $130,000 in vacancy savings funding from the Commonwealth of Virginia during FY 2023.  The Office intends to use this funding to purchase needed computers and equipment. Discussion:  The proposed ordinance appropriates the $130,000 to pay for the purchased computers and equipment. Financial Impact:  No local match is required as a condition of this funding. Recommended Action:  Adoption of the Ordinance. Next Steps Following Council Action:  The Finance Department will make any necessary budget adjustments. Motion by Ms. Lucas-Burke, and seconded by Mr. Tillage, to adopt the following ordinance, and was adopted by the following vote: “ORDINANCE ACCEPTING SHARED EXPENSE FUNDING IN THE AMOUNT OF $130,000 FROM THE COMMONWEALTH OF VIRGINIA AND APPROPRIATING SAID AMOUNT TO THE COMMONWEALTH’S ATTORNEY SECTION OF THE FY 2023 GENERAL FUND BUDGET FOR USE BY THE COMMONWEALTH’S ATTORNEY’S OFFICE TO PURCHASE COMPUTER EQUIPMENT. ” Ayes: Barnes, Hugel, Lucas-Burke, Moody, Tillage, Whitaker, Glover Nays: None 23 - 127 - Adoption of an ordinance establishing a Personal Property Tax Relief Percentage of 50% for Calendar Year 2023 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 Commissioner of the Revenue, a personal property tax relief percentage of 50% has been recommended for calendar year 2023.  This is a 5% increase in the tax relief applied to eligible vehicles as compared to 2022.  While the relief is anticipated to exceed the amount of state funds allocated to Portsmouth for that purpose, it has been the sense of City Council, the Commissioner of the Revenue, and City Management that the higher rebate should be provided as a benefit to Portsmouth citizens. Any loss of revenue resulting from providing the higher relief will be addressed through the City’s General Fund Budget. Financial Impact:  Any loss of revenue from providing the relief will be addressed through the City’s General Fund Budget.