HomeMy Public PortalAbout1976_07_14_O011 Amending Sec. 17-1 Annual Rate and Levy of TaxesORDINANCE NO.
AN ORDINANCE:
TOWN OF LEESBURG
IN
LOUDOUN COUNTY, VIRGINIA
PRESENTED June 28, 1976
76-0-11 ADOPTED July 14, 1976
AMENDING SECTION 17-1 OF THE TOWN CODE TO REVISE THE
RATE OF TAX ON ALL REAL ESTATE.
BE IT ORDAINED by the Council of the Town of Leesburg, Vir-
ginia, as follows:
SECTION I. That Section 17-1 of the Town Code is hereby
amended to read as follows:
Sec. 17-1. Annual levy and rate of taxes.
Taxes shall be levied and collected in the manner de-
scribed by the provisions of this Code and other ordinances
of the municipality and laws of the state, for each fiscal
year beginning July first, and ending June thirtieth, until
otherwise changed, for the support of the municipal govern-
ment, the payment of interest on the municipal debt and for
other municipal purposes, as follows:
(1)
The tax on all taxable real estate shall be at the
rate of sixt%-five c~nts ($0.65) on every one hund-
red dollars ($100.00) of the assessed value thereof.
(2)
Ail tangible personal property, excepting therefrom
the classes of household goods and personal effects
classified in section 58-829.1 of the Code of Vir-
ginia, and including the tangible personal property
separately classified by sections 58-829.2 and
58-829.3 of the Code of~Virginia shall be taxed at
the rate of one dollar ($1.00) on every one hundred
dollars ($100.00) of the assessed value thereof.
(3)
Ail tangible personal property of all railroad, ex-
press, telegraph, telephone, power and other public
service corporatigns shall be taxed at the rate of
one dollar ($1.00) on every one hundred dollars
($100.00) of the assessed value thereof, and tax-
able real estate of such public service cqrpora~ion
shall be taxed at the rate of one dollar ($1.00) on
every one hundred dollars ($100.00) of the assessed
value thereof.
-2-
(4)
The tax on all bank stock subject to taxation with-
in the municipality shall be at the rate of eighty.
($0.80) cents on each one hundred dollars ($100.00)
of the taxable value of the share of the stock in
any bank located in the municipality, subject to
the provisions of section 58-476.2 of the Code of
Virginia. (Code 1963, § 21-2)
SECTION II. That an emergency exists and this ordinance shall
be in full force and effect from and after its passage.
PASSED this 14th day of July
, 1976.
ATTEST:
e Newman,Mayor
Town of Leesburg
Clerk of ~ncil