Minutes 12/14/1971 - Laserfiche WebLink

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}' \ /l 11III (.' \ I TUE SDAY DECEMBER 14, 1971 (the latter group expressing opposition to any increase beyong the present interest rate being charged and, also, to applying interest sooner than the present policy allows), Council adopted (by recorded vote, with Councilmen West, Hartford, and Boaz voting "Aye", and Councilman Hobson voting "No") the following ordinance establishing a rate of $l.90 per one hundred dollars of assessed valuation on real estate for the calendar year 1972 and providing penalties for failure to pay such taxes when due: BE IT ORDAINED by the Council of the City of Martinsville, Virginia, in regular meeting assembled this fourteenth day of December, 1971, pursuant to Section 6-5 of the Code of the City of Martinsville, Virginia (197l, and as amended), and pursuant to Section 58-847 of the CODE OF VIRGINIA (1950, and as amended), that: (1) The tax rate on taxable real estate (land and improvements) within the City of Martinsville, for the calendar year 1972, shall be $1.90 per one hundred dollars of assessed valuation; (2) Real estate taxes levied pursuant to this ordinance shall be due and payable in two equal installments, viz., one-half on or before June 5, 1972 and one-half on or before December 5, 1972 ; (3) In the event any installment or unpaid balance of taxes on real estate hereby levied is not paid on or before the date(s) the same be due and payable, as set forth hereinabove, there shall be added thereto a penalty of five per centum (5%), and such installment or unpaid balance shall bear interest at the rate of one-half of one per centum (~%) per month, not prorated, on and from the first of the month following the date(s) on which such taxes become due and payable, until paid; (4) All ordinances or parts of ordinances in conflict with the provisions of this ordinance be and the same are hereby repealed; and (5) This ordinance shall be in full force and effect as of January l, 1972. City Manager Noland reported that a conditional appropriation of $4,208.00 for water and sewer projects is no longer necessary inasmuch as the Federal allocation for such projects will be sufficient.