Title
Ordinance to set the Tax Rate on Vehicles Without Motive Power (Manufactured Homes); Motor Vehicles Specially Equipped to Provide Transportation for Physically Handicapped Individuals; Machinery and Tools; Machinery and Tools Used Directly in the Manufacture of Precision Investment Castings; Privately Owned Pleasure Boats and Watercraft, 18 Feet and Over, Used for Recreational Purposes Only; Privately Owned Pleasure Boats and Watercraft, Motorized and Nonmotorized and Under 18 Feet, Used for Recreational Purposes Only; Boats or Watercraft Weighing Five Tons or More, Used for Business Purposes Only; Boats or Watercraft Weighing Less Than Five Tons, Used for Business Purposes Only; Privately Owned Camping Trailers Used for Recreational Purposes Only, Privately Owned Travel Trailers Used for Recreational Purposes Only, Certain Privately Owned Trailers Used for the Transportation of Horses; Privately Owned Motor Homes Used For Recreational Purposes Only; One (1) Motor Vehicle Owned and Regularly Used by a Disabled Veteran; and All Other Personal Property in the City of Hampton, Virginia for the Calendar Year beginning January 1, 2018 and ending December 31, 2018
Purpose
PURPOSE/BACKGROUND:
Ordinance to adopt the tax rates applicable to all categories of tangible personal property liable for such levy in the City of Hampton, Virginia as presented in the City Manager's Recommended Budget for Fiscal Year 2018.
Discussion:
This ordinance adopts tax rates applicable to any and all tangible personal property in the entire City, including Fort Monroe and the U.S. Government Reservations of Langley Field and he Kecoughtan Veterans Facility. The generally applicable rate is Four and 50/100 Dollars ($4.50) per $100.00 of assessed value. The tax rates applicable to the following categories shall be less than that rate, as permitted pursuant to Code of Virginia Sec. 58.1-3506: (i) certain classes of tangible personal property exempt from taxation pursuant to Hamp...
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