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Commissioner of the Revenue explains PPTRA and urges caution on expanding relief beyond state allotment
Summary
Frankie Edmondson reviewed the Personal Property Tax Relief Act (PPTRA), noting the state allotment to Portsmouth remains $9.9 million (unchanged since 2004) and saying the council should be careful that local relief above that amount would require general-fund coverage. Council asked staff for historical reconciliations showing any gap between relief granted and state reimbursement.
Frankie Edmondson, Portsmouth's Commissioner of the Revenue, walked council members through the history and mechanics of the Virginia Personal Property Tax Relief Act (PPTRA), telling the council the state allotment the city receives is fixed at $9,900,000 and has not grown since 2004. "That $9,900,000 number has been the same since 2004," Edmondson said.
Edmondson explained the local proposal in the packet: 50% relief on the first $20,000 of assessed vehicle value for qualifying…
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