Chapter 75 FINANCE AND TAXATION.
75-70 DOWNTOWN SERVICE DISTRICTS - OTHER POWERS AND DUTIES
The
Town shall have all those powers and duties with respect to a downtown
service
district as set forth in Section 15.2-2403 Code of Virginia (1950), as
amended,
including the power to contract with any person, firm, or corporation
to
provide additional governmental services in such district.
A.
The tax program authorized by this ordinance on downtown revitalization
and
development shall expire on June 30, 2005, with the exception that all
delinquent taxes owed to the Town as a result of said tax program shall
continued to be due to, and collectable by, the Town and that all
applicable
penalties and interest shall apply.
(Ord.
No. 2-02 Amended 12-17-01-Effective Upon Passage)
B.
This ordinance shall be in full force and effect on and after July 1,
1999.
C.
Prior to the expiration of the tax program authorized by this
ordinance, with
said date being no later than September 1, 2004, Town Council shall
initiate a
review of the downtown service district created by this ordinance.
Such
review shall consider the recommendations of the Downtown Business
Association,
and any property owner subject to the tax imposed herein, and based
upon the
findings of said review, the Council shall decide whether to continue
the
program. If extended, Council shall then establish the appropriate rate
of
taxation, which rate shall in no event exceed that rate set for the
then
current real estate tax rate in the Town of Front Royal generally or
twelve
cents ($.12) per hundred dollars assessed value, whichever is the
higher rate;
unless the Council shall receive a petition, from two-thirds (2/3) of
the
property owners subject to the tax and/or licensed business owners
whose situs
for license purposes is on the property rented or leased in the service
district, requesting that a higher rate be set.
(Ord.
No. 2-02 Amended 12-17-01-Effective Upon Passage)