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TAXATION ~ 21-10 Sec. 21-9. Timely filing of tangible personal property tax returns. (a) Beginning in 1983, the annual returns of taxable tangible personal property shall be fIled with the office of the city's commissioner of the revenue on or before May 1. (b) The penalty for failure to file any such return on or before May 1 of each year shall be ten (10) percent of the tax assessable on such return or ten dollars ($10.00), which ever is greater, and the penalty shall be assessed on the day after any such return is due. (c) The commissioner of the revenue is authorized to grant reasonable extensions of time, not to exceed ninety (90) days, for filing any such return whenever good cause exists; provided, that if any taxpayer who has been granted an extension of time for filing his return fails to file said return within the extended time his case shall be treated the same as if no extension had been granted. (Ord. of 8-10-82) Editor's note-An ordinance adopted Aug. 10, 1982, pertained to filing taxable tangible personal property returns. Such ordinance did not specify manner of codification, but has been included herein at the request of the city and designated by the editor as ~ 21-9. State law reference-Authority to provide time for filing annual returns and penalties for failure to file, Code of Virginia, ~ 58.1-3916. Sec. 21-10. Personal property tax relief. (a) Purpose; definitions; relation to other ordinances. (1) The purpose of this section is to provide for the implementation of the changes to PPTRA affected by legislation adopted during the 2004 Special Session I and the 2005 Regular Session of the General Assembly of Virginia. (2) Terms used in this section that have defined meanings set forth in PPTRA shall have the same meanings as set forth in Va. Code ~ 58.1-3523, as amended. (3) To the extent that the provisions of this section conflict with any prior ordinance or provision of the City Code, this section shall control. (b) Method of computing and reflecting tax relief (1) For tax years commencing in 2006, the city adopts the provisions of Item 503.E of the 2005 Appropriations Act, providing for the computation of tax relief as a specific dollar amount to be offset against the total taxes that would otherwise be due but for PPTRA and the reporting of such specific dollar relief on the tax bill for qualifying vehicles obtaining situs within the city as of January 1 of each tax year. (2) Qualifying vehicles shall receive personal property tax relief in the following manner: a. Personal use vehicles valued at one thousand dollars ($1,000.00) or less will be eligible for one hundred (100) percent tax relief; b. Personal use vehicles valued at one thousand and one dollars ($1,001.00) to twenty thousand dollars ($20,000.00) will be eligible for the annually adopted percentage of local tax relief; Supp. No. 62 1250.5