Title
Resolution to Approve the Refund of Erroneously Assessed Coliseum Central Business Improvement District Taxes Imposed on Property Located at 1950 Saville Row
Purpose
PURPOSE/BACKGROUND:
The City Treasurer shall issue refunds of local tax, penalty, and interest assessed and paid, owing to a taxpayer due to an erroneous assessment. Pursuant to Hampton City Code Section 37-2(b) and Code of Virginia Section 58.1-3981, no refund in excess of $2,500 per invoice shall be made until the amount is approved by the City Attorney and the City Council.
Discussion:
The City's Director of Economic Development has given notice to the Treasurer of a change in assessment resulting in a need to refund certain Coliseum Central Business Improvement District ("CCBID") taxes paid by Lake View Apartments, LP on certain multi-family property located at 1950 Saville Row. Pursuant to Non-Coded Ordinance No. 815, enacted on November 8, 1995, the CCBID includes all commercial properties in the geographic area therein defined, but expressly excludes manufacturers, residential properties, and multi-family dwellings that might otherwise be considered commercial properties from the CCBID. 1950 Saville Row (LRSN: 7001201) is a multi-family dwelling located within the geographic boundaries of the CCBID. The Code of Virginia authorizes the adjustment of erroneously assessed taxes for the current and three (3) prior years. CCBID taxes are imposed on a fiscal year basis, in conjunction with and based on the Assessor's valuation of those properties for real estate tax purposes. The amount of CCBID taxes to be refunded for FY22 is $4,496.24, with interest in the amount of $749.38 also payable. No CCBID taxes were imposed on this property for FY23. Those tax payments were tendered on behalf of the property owner by Virginia Housing; accordingly the refund will be issued to that payer.
Recommendation:
Rec
Approve the Resolution.
Body
WHEREAS, pursuan...
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