CONSENT AGENDA REQUEST

Sponsor:

Board of Supervisors Meeting Date: 

Harry F. Atherton, Chairman, Marshall District Supervisor

August 9, 2007

Staff Lead:

Department: 

Ross W. D'Urso, Commissioner of the Revenue

 Commissioner of the Revenue

Topic: 

A Resolution Establishing the Percentage Allocation of the Fixed Amount of State Personal Property Tax Relief for Qualifying Motor Vehicles for Tax Year 2007

 

Topic Description:

Pursuant to Section 8-29.4(b) of the Code of Fauquier, the Board of Supervisors is to establish the percentage of relief that will be allocated to the taxpayers in a manner that is estimated to fully exhaust the fixed amount of relief provided by the Commonwealth for Tax Year 2007.

By Ordinance, Section 8-29.5(b), the Board has established that qualifying vehicles valued at $1,000.00 or less shall continue to receive 100% relief.  According to Section 8-29.5(c), 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 fully to use all available State personal property tax relief funding. That percentage is set out in the attached resolution.

The percentage was established by computing the growth in the tax base estimate for Tax Year 2007, then applying a 100% relief amount to qualifying vehicles ($1,000.00 or less), then determining the percentage of relief available to the balance of the qualifying fleet in an amount that is expected to fully exhaust the State relief for the taxpayers.

Requested Action of the Board of Supervisors: 

Consider adoption of the attached resolution.

 

Financial Impacts Analysis:

The FY08 Budget estimate was made in anticipation of this change and is not affected by this resolution.  This resolution merely establishes the highest level of relief the County is able to provide under the new State relief distribution.

 

Identify any other Departments, Organizations or Individuals that would be affected by this request:

Treasurer

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