Minutes 11/13/1973 - Laserfiche WebLink

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82 TUESDAY NOVEMBER 13, 1973 County Public Service Authority on a proposed regional sewer service contract; and (3) to consider a proposed ordinance, and the legal aspects thereof, which would provide some real estate tax relief for qualifying elderly homeowners. Following this Executive Session, Council reconvened into regular session where upon motion, duly seconded and unanimously carried, Council accepted the offer of the Henry County Board of Supervisors whereby the said Supervisors will sell (back) to the City its former "City Shop" property for the total sum of $23,550.00 (being $15,000.00 original purchase price, $1,265.00 for roof repair expense incurred by the County, and $7,285.00 interest @ 7~% on the $15,000.00 investment since time of purchase). Council then announced that it is continuing its consideration on a proposed regional sewer service contract with the Henry County Public Service Authority. Then, upon motion, duly seconded and unanimously carried, Council adopted the following ordinance providing some real estate tax relief to qualifying elderly homeowners: WHEREAS Section 58-760.1 of the 1950 Code of Virginia, as amended, provides that the governing body of any city may, by ordinance, provide for the exemption from taxation of real estate, or any portion thereof, upon such conditions and in such amounts as the ordinance may prescribe, owned by, and occupied as the sole dwelling of a person or persons not less than 65 years of age, subject to certain restrictions and conditions pertaining to the combined total income and the net combined financial worth of said persons, their spouses, and any relatives living with them; and, WHEREAS, in the opinion of the Council of the City of Martinsvi1le, Virginia, such persons are bearing an extraordinary real estate tax burden in relation to their income and financial worth and are in need of tax relief as authorized in the aforesaid Code section; now therefore, BE IT ORDAINED by the Council of the City of Martinsvil1e, Virginia, in regular session held on the 13th day of November, 1973, that the following real estate tax exemption shall be granted said persons on the following terms and conditions subject to the following restrictions: 1. The provisions of this ordinance shall be administered by the Commissioner of Revenue of the City of Martinsvi1le, Virginia, according to the terms, conditions, and restrictions set forth herein, and said Commissioner is hereby authorized and empowered to prescribe, adopt and enforce rules and regulations, for the administration of this ordinance.