R-08-08
RESOI4UTION NO. R-OB-OB
A RESOLUTION SETTING THE ALLOCATION PERCENTAGE FOR PERSONAL
PROPERTY TAX RELIEF IN THE CITY OF FAIRFAX FOR THE 2008 TAX YEAR
VVHEREAS, the Personal Property Tax Relief Act aT 1998, Code of Virginia SS58_1-
3523 et seq., (the '''PPTRA'') has been substantially modified by the enactment of Ch.aptcr 1 of
the Acts of Assembly, 2004 Special Session I (Senate Bill 5005), and the provisions OT lten~
503 aT Chapter 951 of the 2005 Acts of Assembly (the 2005 revisions to the 2004-06
Appropriations Act); and
VVI-IE:REAS,. these legislative enactments have required the City to take affirrnative
steps to implement these changes". and to provide for the computation and allocation of relief
provided pursuant to the PPTRA as revised; and
VVHE:R.EAS, the City Council, by resolution adopted Oll February 7, 2006 (Resolution
No. R-06-03), implemented the changes to the PPTRA effected by enactment of Chapter I or
th..c Acts of Assembly, 2004 Special Session I and oT Item 503 or the 2005 Session Revisions
to the 2004-06 Appropriations Act; and
'-"HEREAS, this resolution is adopted pursuant to the requirements 01 Resolution No.
R-06-03 _
NOVV. THER-EFC>RE. BE IT RESOLVED by the City Council of the City or
Fairrax, as folloV\Ts:
1. That qualifying personal use vehicles V\Tith an assessed value less than.. or equal
to $1,000.00 ""ill be eligible for 1 OO.OO~ tax relier rrom personal property
taxation.
2. That qualifying personal use vehicles V\Tith an assessed value greater than
$1,000_00 but less than or equal to $20,000_00 vvill be eligible for 49_30'Y<. tax
relief from personal property taxatiorL
3. That qualifying personal use vehicles having an.. assessed value oT greater than
$20,000.00 shall only receive 49.30~ tax relier from personal property
taxation on the first $20,000.00 of assessed value.
4. That all other vehicles V\Thich do not meet the defInition 01:- ....qualif"yil"1g""
(including". but not limited to, business use vehicles, motor homes and the like)
V\Till not be eligible ror aI1Y form of tax relief under this program.
5. That the above percentages of relier applied to the categories of qualifying
personal use vehicles are estimated to Tully use all available PPTRA funds
allocated to the City of Fairrax by the CommonV\Tealth or Virginia.
BE IT FUR.TI-IER. RESOL VEl> that terms used herein that have defined n'l..eanings
set forth in the PPTRA shall have the same meanings as set forth in Code of Virginia" S58.1-
3523, as amended, and to the extent that the provisions of this resolution conflict V\Tith any
other provision of the luV\TS of the city, that the provisions oIthis resolution shall c01"1troL
BE IT FURTHER RESOLVED that this resolution shall be effective as provided by
1 aV\T .
Adopted this 13 day oflV1ay, 2008_
~\~
l\/1ayor
ATTEST:
t/l!~~
Votes
Councilmember Cross Aye
Councilman Greenfield Aye
Councilmember Lyon Aye
Councilman Rasmussen Aye
Councilman Silverthorne Aye
Councilmember Winter Aye