Minutes 09/12/1989 - Laserfiche WebLink

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TUESDAY, SEPTEMBER 12, 1989 (5) Daily Rental PrOperty shall mean all tangible personal property held for rental and owned by a person engaged in the short-term rental business as defined in Section 21-61(9) Of this Article, except trailers, as defined in Section 46.1-1(33) of the Code of Virginia and other tangible personal property required to be licensed or registered with the Department of Motor Vehicles, the Department of Game and Inland Fisheries, or the Department of Aviation. (6) Gross Proceeds shall mean the total amount charged to each person for the rental of daily rental property, excluding any state and local sales tax paid under the provision of Chapter 6 (Section 58.1-600 et seq.) of Title 58.1 of the 1950 Code of Virginia, as amended. (7) Gross Rental Receipts shall mean all proceeds from rentals during a calendar year, except that proceeds from rental of personal property which also involves the provision of personal services forthe operation of the personal property rented shall not be treated as gross receipts from rental. For purposes of this section the delivery and installation of t~ngible personal p'roperty shall not mean operation. (8) Person shall mean and include individuals, firms, partnerships, associations, corporations, and combinations of individuals of whatever form and character. (9) Short-Term Rental Business shall include any person engaged in the short-term rental of daily rental property as defined in Section 21-61(5) of this Article if: (a) not less than eighty percent (80%) of the gross rental receipts of such business in any year are from transactions involving rental periods of ninety-two (92) consecutive days or less, including all extensions and renewals to the same person or a person affiliated with the leesor and provided that, (b) any rental to a person affiliated with the lessor shall be treated as rental receipts but shall not qualify for purposes of the eighty percent (80%) requirement. Sec. 21-62. Levy and Rate of Daily Rental Tax. Pursuant to Section 58.1-3510.1 of the Code of Virginia, and in addition to all other taxes of every kind now or hereinafter imposed by law, the City hereby levies and imposes on every person engaged in the short-term rental business a tax of one-half percent (1/2%) on the gross proceeds as defined in Section 21-61(6) of this Article of such business. Such tax Shall be in addition to the tax levied pursuant to Section 58.1-605 of the Code of Virginia. Sec. 21-63. Exemptions from Daily Rental Tax. (a) No tax hereunder shall be collected or payable on rentals to the Commonwealth of Virginia, to any political subdivision of the Commonwealth or to the United States.