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2012_02_14_O005 Amending Chapter 20 Licenses Taxation and Miscellaneous RegsThe Town of Leesburg, Virginia ORDINANCE NO. 2012 -0 -005 PRESENTED: February 14, 2012 ADOPTED: February 14, 2012 AN ORDINANCE: TO AMEND AND ADD TO TOWN CODE PART II CHAPTER 20 (LICENSES, TAXATION AND MISCELLANEOUS REGULATIONS) The Council of the Town of Leesburg in Virginia hereby ordains: SECTION I. Chapter 20 (Licenses, Taxation and Miscellaneous Regulations) Article II. Taxation Generally Section 20 -24. — Duty of finance director to collect taxes 1. The director of finance shall collect all taxes and license taxes. 2. Payment of Tax (a) Real estate. Payment of taxes due and owing to the town for real estate shall be paid by, or on behalf of, persons owing such taxes on a semiannual basis. One -half the amount due and owing shall be paid by June 5 of the tax year and one -half the amount due and owing shall be paid by the next following December 5. (b) Personal property and machinery and tools. Except for motor vehicles and trailers, payment of taxes due and owing to the town for personal property and machinery and tools shall be paid by, or on behalf of, persons owing such taxes by October 5 following the date on which there is to be filed by, or on behalf of, such person a tax return indicating the amount of such taxes due and owing on any such property. (c) Pro - ration of tax on motor vehicles and trailers. Personal property tax shall be Payment of taxes for any motor vehicle or trailer for which a return is filed on or before June 15 of a tax year shall be paid by October 5 of the tax year. Payment of taxes for any motor vehicle or trailer for which a return if is filed after June 15 of a tax year shall be paid by jaftuary 15 March 5 of the ensuing tax year. When any motor vehicle or trailer loses its situs in the town or changes ownership after January 1 of the tax year, any tax assessed on such vehicle shall be relieved, and any amount of the tax already paid shall be refunded, on a pro -rated basis for the remaining portion of the tax year. For the purposes of this section, pro- ration shall be determined on a monthly basis, with a period of one -half of a month or more counted as a full month and a period of less than one -half of a month not counted as a month. A motor vehicle or trailer is exempt from taxation under this section for any tax year or portion thereof during which it was assessed by another jurisdiction in the Commonwealth and on which the tax has been paid. IPA AN ORDINANCE: TO AMEND AND ADD TO TOWN CODE PART II CHAPTER 20 (LICENSES, TAXATION AND MISCELLANEOUS REGULATIONS) (d) Establishing reduced tax rate for quahAing vehicle. 1) The Town Council shall establish the tangible personal property tax rate for the general class of tangible personal property, which rate shall also be applied to that portion of the value of each qualifying vehicle that is in excess of $20,000; 2) After establishing the he tan ig ble personal property tax rate for the general class of tangible personal property, the Town Council shall establish one or more reduced tax rates (lower than the rate applied to the general class of tangible personal property) that shall be applied solely to that portion of the value of each qualifying vehicle that is not in excess of $20,000. Such reduced tax rate or rates shall be set at an effective tax rate or rates such that (i) the revenue to be received from such reduced rate or rates on that portion of the value of qualifying vehicles not in excess of $20,000 plus (ii) the revenue to be received on that portion of the value of the qualifying vehicle in excess of $20,000 plus (iii) the Commonwealth's reimbursement is approximatelyequal to the total revenue that would have been received by the Town from the tangible personal property tax had the tax rate for general class of erp sonal property been applied to 100% of the value of all qualifying vehicles. SECTION II. All prior ordinances in conflict herewith are hereby repealed. SECTION III. If a court of competent jurisdiction declares any provision of this ordinance invalid, the decision shall not affect the validity of the ordinance as a whole or any remaining provisions of the Leesburg Town Code. SECTION IV. This ordinance shall be effective upon its adoption. PASSED this 14th day of February, 2012. K -41L stattd, Mayor r Town of Leesburg A T T: Clerk of Cou ci P: \Ordinances\2012\ Amending Chapter 20.docx