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HomeMy Public PortalAbout1977_07_13_O012 TOWN OF LEESBURG IN LOUDOUN COUNTY, VIRGINIA ORDINANCE NO. 77-0-12 PRESENTED JUly 13, i97.~ ADOPTED JUly 13, 1977 AN ORDINANCE: 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, Virginia, as follows: SECTION I. That Section 17-1 of the Town Code is hereby amend- ed to read as follows: Sec. 17-1. AnnUal leVy' and rate of taxes. Taxes shall be levied and collected in the manner des- cribed 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 government, 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 $0.26 on every $100.00 of the assessed value there- of. (2) Ail tangible personal property, excepting therefrom the classes of househOld goods and personal effects classi- fied in Section 58-829.1 of the Code of Virginia, and including the tangible personal property separately classi- fied by Sections 58-829.2 and 58-829.3 of the Code of Virginia, shall be taxed at the rate of $1.00 on every $100.00 of the assessed value thereof. (3) Ail tangible personal property of all railroad, express, telegraph, telephone, power and other public service corporations shall be taxed at the rate of $1,00 on every $100.00 of the assessed value thereof, and taxable real estate of such public service corporation shall be taxed at the rate of $1.00 on every $100.00 of the assessed value thereof. (4) The tax on all bank stock subject to taxation within the municipality shall be at the rate of $0,80 on each $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. SECTION II. That an emergency exists and this ordinance shall be in full force and effect from and after its passage. PASSED this I3t~' day of '' JUly , 1977. ATTEST: Mary An~e NeWman, Mayor Town of Leesburg