HomeMy Public PortalAbout1983_11_09_O034 Amending Chap 17 of the TC for AircraftThe Town of Leesburg in Virginia
ORDINAN(~ NUMBER $$-0-$4
PRESENTED November 9, 1983
ADOPTED November 9, 1983
AN ORDINANCE: AMENDING ARTICLE I OF CHAPTER 17 OF THE TOWN CODE REGARDING A
SEPARATE RATE OF TAX FOR AIRCRAFT
WHEREAS, this Council by Resolution Number 83-57 did support recent
Loudoun County Board of Supervisors' action to reduce the personal property tax
on aircraft; and
WHEREAS, the annexation effective December 31, 1983 will incorporate
Leesburg Municipal Airport; and
WHEREAS, the current town tax rate of $1.00 per $100 of assessed value on
personal property including aircraft will discourage economic activity and
growth at Leesburg Municipal Airport:
THEREFORE, ORDAINED by the Council of the Town of Leesburg in Virginia as
follows:
SECTION I.
Sec. 17-1.
Section 17-1 of the Town Code is amended to read as follows:
Annual Levy and Rate of Taxes.
Taxes shall be levied and collected as provided by law on taxable real
estate, tangible personal property and bank capital in the town for each
fiscal year beginning July 1 and ending June 30 for the support of the town
government, payment of interest on town debt and for other town purposes.
Every person assessed taxes by the town shall pay them as required by law.
(1)
Taxes on all real estate and all tangible personal property,
except the property of public service corporations, shall be as
follows:
Classfication of Property
Rate of Tax per
$100 Assessed Value
(a) Real estate
$0.20
(b) Vehicles used as mobile homes or
offices as described in Sec. 58-
829.5 of the Code of Virginia
O. 20
(c) Aircraft as defined in Section 58-
829.5 of the Code of Vir$inia of 1950
as amended.
0,.001
REGARDING A SEPARATE
(d) Ail other tangible personal prop-
erty except that listed in Section
58-829.3 of the Code of Virginia
$1.00
(2) Taxes on ali real estate and all tangible personal property of public
service corporations shall be as follows:
Classification of Property
Rate of Tax per
$100 Assessed Value
(a) Real estate except as provided in
(b) below
$0.20
Real estate which has no~ been equalized as
provided for in Sec. 58-512.1 of tha Code of
Virginia which shall continue to be assessed
at forty percentum of fair market value
0.65
Tangible personal property
Property classified as tangible personal
property by the town before January 1, 1966
except that portion reclassified as real
estate under Sec. 58-514.2 of the Code of
Virginia
1.00
1.00
(e)
Property classfied as tangible personal
property by the to~ before January 1, 1966
and reclassified as real estate under Sec.
58-514.2 of the Code of Virginia
0.,20
(3)
The tax on all bank capital shall be at the rate of $0.80 per
$100.00 of the net capital of banks located in the to~.~, pursuant
to Title 58, Chapter 10.01 of the Code of Virginia.
SECTION II. Ail prior ordinances and resolutions in conflict herewith are
repealed.
SECTION III. This ordinance shall be effective January 1, 1984.
PASSED this 9th
day of November
ATTE ST:
Clerk/df Council/~
, 1983.
Town of Leesburg