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MOTION: CADDIGAN <br />SECOND: JENKINS <br />January 17, 2006 <br />Regular Meeting <br />Ord. No. 06-03 <br />RE: AMEND THE COUNTY CODE BY ADOPTING AN ORDINANCE TO <br />PROVIDE FOR THE IMPLEMENTATION OF CHANGES TO THE <br />PERSONAL PROPERTY TAX RELIEF ACT OF 1998, EFFECTED BY <br />LEGISLATION ADOPTED DURING THE 2004 SPECIAL SESSION I <br />AND 2005 REGULAR SESSION OF THE VIRGINIA GENERAL <br />ASSEMBLY <br />ACTION: APPROVED <br />WHEREAS, the Personal Property Tax Relief Act of 1998 ("PPTRA") enacted <br />by the Virginia General Assembly established a statewide program intended to provide 100% <br />relief of the tax due on the first $20,000 of assessed value for qualifying vehicles; and <br />WHEREAS, the PPTRA program costs beginning in tax year 2002 exceeded <br />the statutory limit enacted as part of the original legislation causing the relief amount to remain <br />at 70% for that year and the ensuing three years; and <br />WHEREAS, the PPTRA program was substantially modified by enactment of <br />Chapter 1 of the Acts of the Assembly, 2004 Special Session 1, and by Item 503 of Chapter 951 <br />of the 2005 Acts of the Assembly, which capped statewide funding for PPTRA, effectively <br />rolling back the percentage of car tax relief provided by the state to the citizens of Prince <br />William County; and <br />WHEREAS, these legislative enactments require the County to take affirmative <br />steps to implement these changes and to provide for the computation and allocation of relief <br />provided pursuant to the PPTRA, as revised; and <br />WHEREAS, a public hearing, duly advertised in a local newspaper for a period <br />of two weeks, was conducted on January 17, 2006, and interested citizens were given an <br />opportunity to comment on the proposed ordinance; <br />NOW, THEREFORE, BE IT ORDAINED that the Prince William Board of <br />County Supervisors does hereby amend the County Code by adopting the attached ordinance to <br />provide for the implementation of changes to the Personal Property Tax Relief Act of 1998, <br />effected by legislation adopted during the 2004 Special Session I and 2005 Regular Session of <br />the Virginia General Assembly. <br />