Title
Ordinance to Adopt the Tax Rate Applicable to Real Estate and Improvements Thereon in the City of Hampton, Virginia for the Fiscal Year Beginning July 1, 2018 and Ending June 30, 2019
Purpose
PURPOSE/BACKGROUND:
This ordinance adopts the tax rate applicable to any and all real property and improvements thereon 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 Fiscal Year 2019.
Discussion:
The ordinance adopts the tax rate applicable to any and all real property and improvements 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. That tax rate has not been increased since Fiscal Year 2014.
The public hearings necessary to adopt a budget were duly advertised in the Daily Press on April 15, 2018 and April 22, 2018. 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 2, 2018. Final approval will be requested at Council's meeting on May 9, 2018.
Impact:
No change. The rate is the same as Fiscal Year 2018.
Recommendation:
Rec
May 2, 2018: Approve for First Reading Only.
May 9, 2018: 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, 2018, on each $100.00 of assessed value of real property and improvements thereon that 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, 2018 to June 30, 2019.