[Ord. of 3-24-1997(1)]
(a)
There is hereby imposed and levied by the City a tax of $4.50 per
$100 on the assessed value of tangible personal property, with the
exception of household furniture and effects which are not taxable.
(b)
There is hereby imposed and levied a tax of $2 per $100 on the assessed
value of machinery and tools, to be assessed at 30% of cost price.
[Ord. of 4-13-1987]
All assessments for taxes for the City on personal property,
machinery and tools shall be made as of the first day of January of
each year.
[Ord. of 4-13-1987; amended by Ord. No.
93-9, 11-8-1993; Ord. of 8-22-1994; 6-28-2010]
Every person owning any taxable business personal property or
machinery and tools in the City on January 1 of any year shall be
assessed on such property for such taxable year and shall file a return
thereof with the Commissioner of the Revenue on forms prescribed by
the Commissioner. Such returns shall be filed on before February 15
of each year.
[Added 6-28-2010]
(a)
Annual assessment and taxation of motor vehicles, trailers and
boats will be based on a previous personal property tax return filed
by the property owner or owners. Where there has not been any change
in name or address since the previous filing and whose personal property
maintains the same situs or status, the assessment and taxation shall
be based on the previously filed personal property return with the
City of Franklin having adopted an alternative method of filing.
(b)
A new personal property return is required to be filed by the
owner with the City of Franklin adopting the alternative method on
any motor vehicle, trailer or boat whenever there is:
(1)
A change in the owner's name or address;
(2)
A change in situs of the personal property;
(3)
Any change that affects the assessment or taxation of the previously
filed personal property;
(4)
Any acquisition of motor vehicles, trailers or boats for which no
previous personal property return has been filed.
(c)
The alternative method of filing does not preclude the City
of Franklin from assessing personal property in accordance with Code
of Virginia § 58.1-3519 or assigning penalties and interest
in accordance with Code of Virginia § 58.1-3916.
[Ord. of 4-13-1987; amended 6-28-2010]
Any person failing to file a return required by § 27-146 on or before the date prescribed shall incur a penalty thereon of $10 or an amount equivalent to the amount of tax due, whichever is the lesser. Such penalty shall be added to the amount due from the taxpayer on the day after the return is due.
[Ord. of 4-13-1987; amended 6-28-2010]
If any taxpayer liable to file a business personal property return pursuant to § 27-146 neglects or refuses to file such a return within the time prescribed, the Commissioner of the Revenue shall, from the best information obtainable, enter the fair market value of such property and assess the same as if it had been reported on the required return, and add the penalty required by § 27-147.
[Ord. No. 91-15, 12-30-1991; amended by Ord. No. 2005-4, 2-28-2005; 2-22-2010; 6-28-2010]
(a)
Notwithstanding of the provisions of § 27-145 above, for the calendar year beginning January 1, 1992, and ending December 31, 1992, and for each and every calendar year thereafter, each and every motor vehicle, trailer and boat which acquires a situs in the City after the tax day of January 1 of each year shall be taxed for the balance of the tax year. Such tax shall be prorated on a monthly basis; and for the purpose of proration, a period of more than 1/2 of a month shall be counted as a full month, and a period of 1/2 or less than 1/2 shall not be counted.
(b)
When any person after the tax day acquires a motor vehicle, trailer or boat with a situs in the City, a tax shall be assessed on the motor vehicle, trailer or boat as provided above in Subsection (a) for that portion of the tax year during which the new owner owns the motor vehicle, trailer or boat and it has a situs in the City.
(c)
When any person after the tax day or situs day sells or otherwise
transfers ownership or title to a motor vehicle, trailer or boat having
situs in the City, the tax thereon shall be relieved on a monthly
prorated basis as provide above, and the appropriate prorated amount
of any tax already paid shall be refunded or credited, at the option
of the taxpayer, against the tax due on any motor vehicle, trailer
or boat owned by the taxpayer during the same year by the Treasurer,
except that no refund shall be made if the motor vehicle, trailer
or boat acquires a situs in the Commonwealth of Virginia in a nonprorating
locality.
(d)
Any refund made or credit given under Subsection (c) above shall be made or given with 30 days of the date such tax is relieved. No refund of less than $5 shall be issued to a taxpayer unless specifically requested by the taxpayer.
(e)
Any person who moves from a nonprorating locality in the Commonwealth
of Virginia to the City in a single tax year shall be entitled to
a property tax credit in the City if the person was liable for personal
property taxes on a motor vehicle and has paid those taxes to such
nonprorating locality.
(f)
Any person who moves from a nonprorating locality in the Commonwealth
of Virginia to the City of Franklin in a single tax year shall be
entitled to a property tax credit in the City of Franklin if the person
replaces the original motor vehicle upon which taxes are due to such
nonprorating locality for the same tax year. The City shall provide
a credit against the total tax due on the replacement vehicle in an
amount equal to the tax paid to such nonprorating locality for the
period of time commencing with the disposition of the original vehicle
and continuing through the close of the tax year in which the person
incurred tax liability to such nonprorating locality for the original
vehicle.
(g)
Any person who owns a motor vehicle, trailer or boat which acquires
a situs in the City after the tax day of January 1 of any year and
before December 16 of that year shall file a return with the Commissioner
of the Revenue 30 days after such property acquires a situs in the
City.
[Ord. No. 91-15, 12-30-1991; amended 6-28-2010]
(a)
The personal property tax and vehicle license fee shall be due and
payable on or before December 5 of each year for property assessed
on January 1 of any year. The tax and vehicle license fee shall be
listed as a separate item on the tax bill.
[Ord. No. 91-15, 12-30-1991; amended by Ord. of 3-24-1997(2)]
In the event any tax on personal property is not paid on or before the time the same is due and payable as set forth in § 27-150 there shall be added thereto a penalty of 10% of the amount of such unpaid tax or $10, whichever is greater, provided that the penalty shall in no case exceed the amount of the tax assessable. Such taxes shall bear interest at the rate of 10% per annum from the first day of the month following the due date until paid.
[Added 3-27-2017 by Res.
No. 2017-01]
One motor vehicle owned and regularly used by a veteran who
is permanently and totally disabled as certified by the Department
of Veterans Services shall be exempt from the personal property tax
levies of the City Council. To qualify for this classification, the
veteran shall provide proof that he is the owner of the motor vehicle,
and the veteran shall provide a written statement to the Commissioner
of Revenue from the Department of Veterans Services that the veteran
has been designated or classified by the Department of Veterans Services
to be 100% disabled, and that his disability is service-connected.
