AN ORDINANCE TO PROVIDE FOR THE IMPLEMENTATION OF THE 2004-2005 CHANGES TO THE PERSONAL PROPERTY TAX RELIEF ACT OF 1998
WHEREAS, the Personal Property Tax Relief Act of 1998, Virginia Code § 58.1-3523, et seq. (“PPTRA”), has been substantially 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”); and
WHEREAS, these legislative enactments require Fauquier County to take affirmative steps to implement these changes, and to provide for the computation and allocation of relief provided pursuant to the Personal Property Tax Relief Act, as revised; and
WHEREAS, these legislative enactments provide for the appropriation to Fauquier County, commencing in 2006, of a fixed sum to be used exclusively for the provision of tax relief to owners of qualifying personal use vehicles that are subject to the personal property tax (“PPT”) on such vehicles; now, therefore, be it
ORDAINED by the Fauquier County Board of Supervisors this 10th day of November 2005, That Chapter 8, Article X of the Code of Fauquier County be, and is hereby, amended to add Section 8-29.3, et seq., which shall read as follows:
§ 8-29.3. Purpose; Definitions; Relation to Other Ordinances.
(a) The purpose of this Ordinance is to provide for the implementation of the changes to the Personal Property Tax Relief Act affected by legislation adopted during the 2004 Special Session I and the 2005 Regular Session of the General Assembly of Virginia.
(b) Terms used in this Ordinance that have defined meanings set forth in Personal Property Tax Relief Act shall have the same meanings as set forth in Va. Code § 58.1-3523, as amended.
(c) To the extent that the provisions of this Ordinance conflict with any prior Ordinance or provision of the County of Fauquier Code, this Ordinance shall control.
§ 8-29.4. Method of Computing and Reflecting Tax Relief.
(a) For tax years commencing in 2006, the County of Fauquier 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 personal property tax relief and the reporting of such specific dollar relief on the tax bill.
(b) The Board shall, by resolution, set the percentage of tax relief at such a level that it is anticipated fully to exhaust Personal Property Tax Relief Act relief funds provided to the County of Fauquier by the Commonwealth.
(c) 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 general manner in which relief is allocated.
§ 8-29.5. Allocation of Relief Among Taxpayers.
(a) Allocation of personal property tax relief shall be provided in accordance with the general provisions of this section, as implemented by the specific provisions of the County of Fauquier annual budget relating to Personal Property Tax Relief Act relief.
(b) Relief shall be allocated in such a manner as to eliminate personal property taxation of each qualifying vehicle with an assessed value of $1,000 or less.
(c) Relief with respect to qualifying vehicles with assessed values of more than $1,000 shall be provided at a percentage, annually fixed and applied to the first $20,000 in value of each such qualifying vehicle, that is estimated fully to use all available State personal property tax relief funding. The percentage shall be established annually.
§ 8-29.6. Transitional Provisions.
(a) Pursuant to authority conferred in Item 503.D of the 2005 Appropriations Act, unless the assessment is determined to be of no fault of the taxpayer, the County of Fauquier Treasurer is authorized to issue a supplemental personal property tax bill, in the amount of 100 percent of tax due without regard to any former entitlement to State personal property tax 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 earlier occurs.
(b) Penalty and interest with respect to bills issued pursuant to subsection (a) of this section shall be computed on the entire amount of tax owed. Interest shall be computed at the rate provided in Article X, Section 8-29 of the Code of the County of Fauquier from the original due date of the tax.