Minutes 09/22/1987 - Laserfiche WebLink

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,,<> TUESDAY, SEPTEMBER 22, 1987 ~ In acknowledging receipt of a petition filed by owners of properties situated along Grandview Road, between Mountain Road and the City's corporate limits, seeking the construction by the City (on a shared-cost basis) of curb-and-gutter along both sides of said Grandview Road section, and upon being apprised that the City's current (1987-88) budget includes no funds for this type of construction, Council unanimously directed that this petition and its estimated cost be considered by the City's Public Works Department in the preparation of this department's 1988-89 budget requested. .- In accordance with a prior request from City Council and taking into consideration changes made by the Virginia General Assembly in statues by which real property tax relief may be granted eligible property owners who are elderly and handicapped or are permanently-and-totally disabled, Mr. J. Ronnie Minter. the City's Commissioner of the Revenue, presented two proposals by which Council might amend the City's current ordinance providing such tax relief, either of which proposals would be less restrictive than the City's present regulations. Mr. Minter projected the effects of these two proposals, as follows: Proposal No. 1 = Maximum Income of $12,000.00; Total Financial Worth of $50,000.00; and Maximum Property Tax Relief of $300.00 = Estimated Total 1988 Tax Relief. . . $15,913.72 Less: 1987 Tax Relief . . . . . . . $10,192.14 Estimated Additional Tax Relief . $ 5,721. 58 Proposal No. 2 Maximum Income of $15,000.00; Total Financial Worth of $60,000.00; and Maximum Property Tax Relief of $300.00 = Estimated Total 1988 Tax Relief. . . $18,009.67 Less: 1987 Tax Relief . . . . . . . $10,192.14 Estimated Additional Tax Relief. . . $ 7,817.53 ,-