Title
Ordinance to Set the Tax Rates for All Categories of Tangible Personal Property liable for such levy in the City of Hampton, Virginia for the Calendar Year beginning January 1, 2017 and ending December 31, 2017
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 FY17
Discussion:
The ordinance adopts the tax rates applicable to any and all 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 $4.50 per $100 of assessed value, with lower rates applied to (i) vehicles without motive power used or designed to be used as a manufactured homes; (ii) motor vehicles specially equipped to provide transportation for physically handicapped individuals; (iii) machinery and tools; (iv) machinery and tools used directly in the manufacture of precision investment castings; (v) privately owned pleasure boats and watercraft, 18 feet and over, used for recreational purposes only; (vi) privately owned pleasure boats and watercraft, motorized and under 18 feet that are used for recreational purposes only; (vii) privately owned pleasure boats and watercraft, nonmotorized and under 18 feet that are used for recreational purposes only; (viii) boats or watercraft weighing five tons or more used for business purposes only; (ix) boats or watercraft weighing less than five tons used for business purposes only; (x) privately owned camping trailers, privately owned travel trailers, certain privately owned trailers designed for the transportation of horses, (xi)privately owned motor homes that are used for recreational purposes only; and (xii) one(1) motor vehicle owned and regularly used by a disabled veteran. No rates have been increased. The rates p...
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