HomeMy Public PortalAbout2024_02_27_O004 Tax Year 2024 Personal Property Tax RatesThe Towne
Leesburg,
Virginia
ORDINANCE NO. 2024-0-004
AN ORDINANCE:
PRESENTED: February 27, 2024
ADOPTED: February 27, 2024
SETTING TAX RATES ON PERSONAL PROPERTY (SECTION
20-22), VEHICLE LICENSE FEE (SECTION 32-84), MOTOR
VEHICLE TAX REDUCTION (SECTION . 20-25), AND
PERSONAL PROPERTY TAX RELIEF (SECTION 20-30) FOR
TAX YEAR 2024, AND AMENDING APPENDIX B — FEE
SCHEDULE
WHEREAS, on October 24, 2017, in Resolution No. 2017-158, the Town Council
approved a Memorandum of Agreement ("MOA") between the County of Loudoun
("County"), the Town of Leesburg ("Town"), and the Loudoun County Treasurer
("Treasurer"), to consolidate the billing and collecting of town and county taxes by the County
on behalf of the Town; and
WHEREAS, pursuant to the terms of the MOA, the Town must adopt personal
property tax rates to conform to the tax billing and collection schedule of the County; and
WHEREAS, the Council wishes to set the tax rates for personal property for tax year
2024; and
WHEREAS, the personal property tax relief for. tax year 2024 and the levied vehicle
license fee must be affirmed pursuant to the terms of the MOA; and
WHEREAS, § 58.1-3506.1 et seq. of the Code of Virginia, as amended, authorizes the
Town to establish a different tax rate for one motor vehicle owned and used primarily by
anyone at least 65 years of age or anyone found to be permanently and totally disabled; and
WHEREAS, as authorized by Virginia Code § 58.1-3506.1, section 20-25 of the
Leesburg Town Code provides for such elderly and disabled tax relief and adopts the County
ordinance governing such relief.
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AN ORDINANCE: SETTING TAX RATES ON PERSONAL PROPERTY (SECTION
20-22), VEHICLE LICENSE FEE (SECTION 32-84), MOTOR
VEHICLE TAX REDUCTION (SECTION 20-25), AND PERSONAL
PROPERTY TAX RELIEF (SECTION 20-30) FOR TAX YEAR 2024,
AND AMENDING APPENDIX B — FEE SCHEDULE
THEREFORE, ORDAINED, by the Council of the Town of Leesburg in Virginia as
follows:
SECTION I. The tax rate for personal taxable property for tax year 2023 shall be set at:
(a) Aircraft - $0.001 per $100.00 of assessed value.
(b) Motor vehicles - $1.00 per $100.00 of assessed value.
(c) Motor vehicles of eligible elderly and disabled (Town Code Sec. 20-25) - $0.50 per
$100.00 of assessed value.
(d) Tangible personal property (excluding public service corporations) - $1.00 per
$100.00 of assessed value.
(e) Bank capital - $0.80 per $100.00 of the net capital of banks located in the town.
SECTION II. The personal property tax relief rate for tax year 2024 under the
provisions of the Virginia Personal Property Tax Relief Act (Virginia Code §§ 58.1-3523 et seq.)
and Leesburg Town Code sec. 20-30, shall be thirty-four percent (34%), which shall be applied
solely to that portion of the value of each qualifying vehicle that is not in excess of $20,000.
Appendix B -Fee Schedule (Section 20-30) is hereby amended to reflect such personal property
tax relief rate of 34%.
SECTION III. The vehicle license fee for tax year 2024 shall remain unchanged at
$25.00 per vehicle.
SECTION IV. All prior ordinances in conflict herewith are hereby repealed.
SECTION V. Severability. 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.
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AN ORDINANCE: SETTING TAX RATES ON PERSONAL PROPERTY (SECTION
20-22), VEHICLE LICENSE FEE (SECTION 32-84), MOTOR
VEHICLE TAX REDUCTION (SECTION 20-25), AND PERSONAL
PROPERTY TAX RELIEF (SECTION 20-30) FOR TAX YEAR 2024,
AND AMENDING APPENDIX B — FEE SCHEDULE
SECTION VI. This ordinance shall become effective upon adoption.
PASSED this 27`i day of February 2024.
Kelly urk, Ifiyor
Town of Leesburg
ATTEST:
Clerk of Council