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<br />M Martinsville <br /> <br />City Council <br />Agenda Summary <br /> <br />Meeting Date: <br />Item No: <br />Department: <br />Issue: <br /> <br />November 14,2006 <br />6. <br /> <br />City Council <br /> <br />Discussion regarding the City's current policy and <br />procedure on tax-exempt status. <br /> <br />Summary: <br /> <br />The moratorium on the consideration of tax-exemptions was adopted by <br />Resolution dated April 23, 2003. There is no provision for review, so as it stands <br />now, unless changed, the properties are pretty much exempted for "life". The City <br />does not have an ordinance, which allows for review and the Commissioner of the <br />Revenue does not have the authority to request a review. <br /> <br />There are some properties that the Commissioner can find no historical data to <br />show why the exemption was granted. In some cases the property use may not be <br />consistent with the exempt purpose and exemption qualification that was <br />previously granted and there is no formal review authority. <br /> <br />I t is the Commissioner's recommendation that if Council chooses to lift the <br />moratorium, that we enact a stringent and clear ordinance by which organizations <br />would be eligible for exemption and an application and review policy be established <br />for granting any future exemptions, revoking exemptions and periodically <br />reviewing exemptions that have been granted. She also suggested the review <br />board consist of the Finance Director, Treasurer and Commissioner. <br /> <br />Attachments: <br /> <br />Current Resolution <br />Virginia State Code Section 58.1-3605 <br /> <br />Recommendations: Place on next agenda <br />