The fight has begun again on the M&T tax. From the VML Legislative Update:
“Del. Bob Purkey, chairman of the House Finance Committee, has introduced yet again another measure to end local taxation of machinery and tools. His bill from last session was defeated twice on the House floor after heavy lobbying from localities.
In this year’s version — HB 1636 — machinery and tools purchased on or after July 1 would be subject solely to state taxation as intangible personal property for the first three years after the date of purchase or after being brought into Virginia for the first time. For years four through 10, machinery and tools would be considered personal property and subject to local taxes. However, after the tenth year of service, this same property reverts to intangible personal property and is no longer subject to local taxes, if the assessed value of the machinery and tools exceeds 1 percent of the original cost.
It is interesting to note how the same piece of equipment transforms repeatedly from a tangible to an intangible status. However, under state statute (§ 58.1-1100), only the state can tax intangible personal property. As a matter of policy, the state has chosen not to do so. The bill has been referred to the House Finance Committee.”
It’s a house bill so you’ll have to contact Del. Miller if you’re interested in supporting the City.
January 17, 2011 at 10:01 pm
At the Town Hall Meeting on January 3rd, Del. Miller heard the Commission on Aging’s Legislative Program stand to not touch BPOL & M&T. All the greater Prince William Area GA Members got a copy.
On January 6th, at the Regional Hearing on the Governor’s Proposed Budget, both Senators Colgan and Saslaw heard me read the same thing.
I’ll fire up who I can about it….dang, with both VML and VaCO on board with not touching either tax without a replacement funding stream, you think he might listen. Shoot, he just wants all those Gov’t Contractors in Virgnia Beach to get a break!
January 17, 2011 at 10:09 pm
http://www.wtop.com/?nid=600&sid=2236955
Don’t remember “menhaden fishing” in the city’s
legislative request package. .. I’ll look again.
January 17, 2011 at 10:18 pm
http://gainesville-times.com/news/2011/jan/17/delegate-seeks-put-surcharge-vre-rides/
January 18, 2011 at 7:42 am
I didn’t even know the Rappa flowed in our area…not sure we even have a feeder stream or creek.
Ah, the Northern Neck – with center of commerce being King & Queen County. Home to gravel pits and the Kitty Litter Capitol of the World!