Laserfiche WebLink
<br />Sec. 21-11.3 Property tax exemption by designation of the City Council; actions of the <br />Commissioner of the Revenue <br /> <br />Pursuant to the authority granted in Virginia Constitution, Article X, 96(a)(6), and Code of <br />Virginia 958.1-3651, any organization that wants the City Council to consider designating the <br />organization as being exempt from property taxation shall meet the minimum criteria set forth in <br />Section 21-11.4 and shall submit the information required in Section 21-11.5 in the form of an <br />application to the Commissioner of the Revenue. The Commissioner of the Revenue shall <br />prepare such application forms, and all information submitted on such forms shall be accurate <br />and complete when submitted to the Commissioner of the Revenue. The Commissioner of the <br />Revenue may require additional information and/or clarifications concerning such application, <br />and pursuant to Code of Virginia 9958.1-311 0 and 58.1-3111, the Commissioner of the Revenue <br />may summons taxpayers and other persons for the purpose of determining whether the property <br />should be exempted or whether taxes should be assessed. <br /> <br />If the Commissioner of the Revenue determines that any application or applications are complete <br />and meet the minimum criteria set forth in Section 21-11.4, then the Commissioner of the <br />Revenue shall provide an estimate of the revenue impact to the locality and its taxpayers of <br />exempting the property for which the exemption or exemptions are being sought to the City <br />Manager for presentation to the City Council for its consideration at the time of the consideration <br />of the annual budget. The Commissioner of the Revenue shall also submit any such tax <br />exemption application or applications, together with the estimated revenue impact and any other <br />pertinent information to the City Council for its consideration at the public hearing as required <br />by Code of Virginia 958.1-3651. The tax exemption public hearing may be held concurrently <br />with the public hearing on the annual budget, or the public hearing may be held at a separate date <br />and time. <br /> <br />Sec. 21-11.4 Minimum criteria for property tax exemption by designation of the City <br />Council. <br /> <br />The City Council shall not consider any application from any organization unless that <br />organization is qualified for designation pursuant to Virginia Constitution, Article X, 96(a)(6) <br />and that organization also meets these minimum criteria: <br /> <br />(1) The organization seeking tax exemption is operated on a nonprofit basis and has qualified <br />for federal income tax exemption pursuant to 26 U.S.C. SS 501(c)(3), 501 (c)(4), or <br />501(c)(7); <br /> <br />(2) The organization seeking tax exemption owns and uses property for religious, charitable, <br />patriotic, historical, benevolent, cultural, or public park and playground purposes within <br />the City of Martinsville; <br /> <br />(3) Except for reasonable salaries and reimbursements paid to its officers and employees for <br />services actually rendered, no part of the profits or income of the organization inures to <br />the benefit of any individual person or any other organization; and <br />