Minutes 08/26/1986 - Laserfiche WebLink

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62 TUESDAY, AUGUST 26, 1986 No. 11 fronting on Forest Street, be--and is hereby declared-- vacated and abandoned, subject to the stipulation that adjacent property owners voluntarily dedicate sufficient right-of-way neces- sary for the future construction by the City of Martinsville of a turnaround at the end of Branch Street. BE IT FURTHER ORDAINED by said Council that, an emergency existing, this ordinance shall be in force on and after August 27, 1986. Upon motion, duly seconded and unan1mously carried, Council adopted the following ordinance, identIfied as Ordinance No. 86-5 and as introduced and placed on first reading at Council's regular meeting held August 12, 1986, which ordinance amends Section 21.3 of the City Code to comply w1th Virg1nia statutes regulating penalties and interest on delinquent property taxes: BE IT ORDAINED by the Council of the City of Martinsville, Virginia, in regular session assembled this 26th day of August, 1986, that Chapter 21--Taxation, Article I--In General, Section 21.3--Penalty and interest on delinquent taxes on real estate, tangible personal property, and machinery and tools, of the City Code be and 1s hereby amended, as follows: Sec. 21-3. Penalty and interest on delinquent taxes on real estate, tangible personal property and machinery and tools. (a) The penalty for the failure to pay taxes on real estate, tangible personal property and machinery and tools on or before the date or dates when the same are due shall be ten (10) percent of the tax past due, or the sum of ten dollars ($10.00), whichever is greater, except, however, that the penalty shall not exceed the amount of the tax when the tax is less than ten dollars ($10.00). Such penalty shall be assessed on the day after any such tax or installment thereof is due and, when so assessed, shall become a part of the tax. (b) In addition to the penalty provided for above, taxes on real estate, tangible personal property and machinery and tools, which are not paid when due, shall bear interest at the rate of ten (10) percent per annum, such interest to commence on the first day after such tax, or installment thereof, was due. Council unanimously designated Mayor Oakes as its voting delegate--and Vice- Mayor Williams as its alternate voting delegate--to the forthcoming Virginia Municipal League's business meeting scheduled for September 23, 1986, in Norfolk, Virginia.