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Addison council discusses repealing property tax on personal leased vehicles; staff asked to prepare ordinance
Summary
Council heard a staff briefing on Addison's continued assessment of property tax on personal leased vehicles, the potential impact of a pending state constitutional amendment, and directed staff to prepare an ordinance to eliminate the locally-assessed tax for council consideration.
The Addison City Council heard a detailed briefing May 27 on the town's long-standing practice of assessing property tax on personal leased vehicles and directed staff to prepare an ordinance to consider eliminating that tax.
The discussion centered on how the tax originated, the current revenue it produces and a pending state-level change that could render local action unnecessary. Steven Lickman, chief financial officer, told the council Addison adopted an ordinance in February 2001 continuing tax assessments on personal leased cars and light trucks after a state change that otherwise exempted them. “About $20,000,000 of that is personal leased vehicles,” Lickman said.…
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