[Adopted 12-20-2005]
A.
The purpose of this article is to provide for the
implementation of the changes to Personal Property Tax Relief Act
(PPTRA) effected by legislation adopted during the 2004 Special Session
I and the 2005 Regular Session of the General Assembly of Virginia.
B.
Terms used in this article that have defined meanings
set forth in PPTRA shall have the same meaning as set forth in § 58.1-3523,
Code of Virginia, as amended.
C.
To the extent that the provisions of this article
conflict with any prior Ordinance or provision of the County Code,
this article shall control.
A.
For tax years commencing in 2006, the County adopts
the provisions of Item 503.E of the 2005 Appropriations Act, providing
for the computation of tax relief as a specific dollar amount to be
offset against the total taxes that would otherwise be due but for
PPTRA and the reporting of such specific dollar relief on the tax
bill.
B.
The Board shall, by resolution, set the rate of tax
relief at such a level that it is anticipated fully to exhaust PPTRA
relief funds provided to the County by the commonwealth. Any amount
of PPTRA relief not used within the County's fiscal year shall be
carried forward and used to increase the funds available for personal
property tax relief in the following fiscal year.
C.
Personal property tax bills shall set forth on their
face the specific dollar amount of relief credited with respect to
each qualifying vehicle, together with an explanation of the general
manner in which relief is allocated.
A.
Allocation of PPTRA relief shall be provided in accordance
with the general provisions of this section, as implemented by the
specific provisions of the County's annual budget relating to PPTRA
relief.
B.
Relief shall be allocated in such a manner as to eliminate
personal property taxation of each qualifying vehicle with an assessed
value of $1,000 or less.
C.
Relief with respect to qualifying vehicles with assessed
values of more than $1,000 shall be provided at a rate, annually fixed
in the County budget and applied to the first $20,000 in value of
each qualifying vehicle, that is estimated fully to use all available
state PPTRA relief. The rate shall be established annually as a part
of the adopted budget for the County.
A.
Pursuant to authority conferred in Item 503.D of the
2005 Appropriations Act, unless the assessment is determined to be
of no fault of the taxpayer, the County Treasurer is authorized to
issue a supplementary personal property tax bill, in the amount of
100% of the tax due without regard to any former entitlement to state
PPTRA relief, plus applicable penalties and interest, to any taxpayer
whose taxes with respect to qualifying vehicle for tax year 2005 or
any prior tax year remain unpaid on September 1, 2006, or such date
as state funds for reimbursement of the state share of such bill have
become unavailable, whichever earlier occurs.
