§ 9-70. Tax relief for qualifying motor vehicles.

(a)

Basis of tax relief. The tax relief provided under this section relates to the Personal Property Tax Relief Act of 1998, Code of Virginia, §§ 58.1-3523 et seq. ("PPTRA"), which was modified by the enactment of Chapter 1 of the Acts of Assembly, 2004 Special Session I (Senate Bill 5005), and the provisions of Item 503 of Chapter 951 of the 2005 Acts of Assembly (the 2005 revisions to the 2004-06 Appropriations Act, hereinafter cited as the "2005 Appropriations Act").

(b)

Method of computing and reflecting tax relief. For tax years commencing in 2006, the county adopts the provisions of item 503.E of the 2005 Appropriations Act, providing for the computation of tax relief as a specific dollar amount to be offset against the total taxes that would otherwise be due but for PPTRA and the reporting of such specific dollar relief on the tax bill. The board shall, by resolution, set the percentage of tax relief at a level that is anticipated to exhaust PPTRA relief funds provided to the county by the state. Personal property tax bills shall set forth on their face the specific dollar amount of relief credited with respect to each qualifying vehicle, together with an explanation of the manner in which relief is allocated.

(c)

Allocation of relief among taxpayers. Relief shall be allocated in such as manner as to eliminate personal property taxation of each qualifying vehicle with an assessed value of $1,000.00 or less. Relief with respect to qualifying vehicles with assessed values of more than $1,000.00 shall be provided at a percentage, annually fixed and applied to the first $20,000.00 in value of each such qualifying vehicle, that is estimated to exhaust all available state PPTRA relief. The percentage shall be established annually as a part of the adopted budget for the county.

(d)

Transitional provisions.

(1)

Pursuant to authority conferred in item 503.D of the 2005 Appropriations Act, the county treasurer shall issue a supplemental personal property tax bill, in the amount of 100 percent of tax due without regard to any former entitlement to state PPTRA relief, plus applicable penalties and interest, to any taxpayer whose taxes with respect to a qualifying vehicle for tax year 2005 or any prior tax year remain unpaid on September 1, 2006, or such date as state funds for reimbursement of the state share of such bill have become unavailable, whichever occurs first.

(2)

Penalty and interest with respect to bills issued pursuant to this section shall be computed on the entire amount of tax owed. Interest shall be computed at the rate provided in section 9-51 from the original due date of the tax.

(Ord. of 11-09-05(1), § 1)

(Ord. of 11-09-05(1), § 1)