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1984_06_13_O020The Town of Leesburg in Virginia PRESENTED June 13, 1984 ORDINANCE NUMBER 84-0-20 ADOPTED June 13, 1984 AN ORDINANCE: AMENDING ARTICLE I OF CHAPTER 17 OF THE TOWN CODE TO REVISE THE REAL ESTATE TAX HATE WHEREAS, the approved budget for fiscal year 1985 is balanced at a real estate tax rate of $0.18 per $100 assessed value: THEREFORE, ORDAINED by the Council of the Town of Leesburg in Virginia as follows: SECTION I. Section 17-1 of the Town Code is amended to read as follows: Sec. 17-1. 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. Taxea 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 SG. 2G 0.18 (b) Vehicles used as mobile homes or offices as described in Sec. 58- 829.5 of the Code of Virginia $0.2G 0.18 (c) Aircraft as defined in Section 53- 829.5 of the Code of Virginia of 1950, as amended. $0.001 (d) All other tangible personal prop- erty except that listed in SectiOn 58-829.3 of the Code of Virginia $1.00 -2- AMENDMENT REGARDING A REVISION OF THE REAL ESTATE TAX RATE (2) Taxes on all real estate and all tangible personal property of public service corporations shall be as follows: Classification of Property (a) Real estate except as provided in (b) below Rate of Tax per $100 Assessed Value $0~2G 0.18 (b) Real estate which has not been equalized as provided for in Sec. 58-512.1 of the Code of Virginia which shall continue to be assessed at forty percentum of fair market value $0.65 (c) Tangible personal property $1.00 (d) 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 (e) Property classfied as tangible personal property by the town before January 1, 1966 and reclassified as real estate under Sec. 58-514.2 of the Code of Virginia $0.2G 0.18 (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 town pursuant to Title 58, Chapter 10.01 of the Code of Virginia. SECTION II. All prior ordinances and resolutions in conflict herewith are repealed. SECTION III. This ordinance shall be in effect upon its passage for tax year 1984. PASSED this 13th day of June ATTEST: Clerk of C?n¢il , 1984. Town of Leesburg