Title
Ordinance to set the Real Estate Tax Rate in the City of Hampton Virginia, for Fiscal Year 2017 Beginning July 1, 2016 and Ending June 30, 2017
Purpose
PURPOSE/BACKGROUND:
This ordinance adopts the tax rate applicable to any and all real property throughout the entire City of Hampton, Virginia including Fort Monroe and the U. S. Government Reservations of Langley Field and the Kecoughtan Veterans Hospital as presented in the City Manager's Recommended Budget for FY17.
Discussion:
The ordinance adopts the tax rate applicable to any and all real property throughout the entire City of Hampton, Virginia, including Fort Monroe and the U.S. Government Reservations of Langley Field and the Kecoughtan Veterans Hospital. It imposes a general tax rate of $1.24 per $100 of assessed value. The rate has not been increased. The rate proposed is the same as were adopted and imposed for the fiscal year beginning January 1, 2016 and ending December 31, 2016. Pursuant to Hampton City Code Sec. 2-50, no ordinance imposing taxes shall be passed on the same day of its introduction. This ordinance is being introduced on May 4, 2016. Final approval will be requested at Council's meeting on May 11, 2016.
Impact:
No change. Rates same as FY16.
Recommendation:
Rec
May 4, 2016: Approve for First Reading Only.
May 11, 2016: Final Approval.
Body
BE IT ORDAINED by the City Council of the City of Hampton, Virginia, that the City levy for the fiscal year beginning July 1, 2016, on each $100.00 of assessed value of real property which is liable for such levy within and throughout the entire City of Hampton, Virginia, including Fort Monroe and the U.S. Government Reservations of Langley Field and the Kecoughtan Veterans Facility, for the purpose of meeting the requirements of the Hampton City Code §2-50, to wit:
Real estate and improvements thereon, at a rate of One and 24/100 Dollars ($1.24) per $100 of assessed value for the period from July 1, 2016 to June 30, 2017.