Isle of Wight eyes tax payment options
Published 12:00 am Friday, December 14, 2007
SMITHFIELD—An option to prepay personal property tax could be on the horizon for Isle of Wight County taxpayers.
Tom Ivy, chairman of the Isle of Wight Board of Supervisors, told the Smithfield Town Council that the board will soon consider such a move.
&uot;I bring this up in case the town may want to consider the same thing,&uot; he said.
Ivy referred to the fact that taxpayers currently are required to pay personal property at the end of the year. &uot;This poses a hardship on some of our citizens, as it is just before Christmas.
&uot;Paying in installments like we do estimated federal taxes would be one way to ease this burden,&uot; he said.
Ivy added that the board also is considering a twice-a-year payment.
&uot;There will be a cost associated with any change, however.
There will be more work involved with additional mailings, increased postage, things like that.&uot;
Ivy emphasized that to ensure an adequate cash flow, it would take at least two years to initiate such a move.
He noted that if the prepaid option becomes a reality, it would be a first in Virginia.
Public hearings held during the meeting included an ordinance to prohibit truck traffic on historic streets. The council agreed to limit traffic to those trucks servicing businesses in these areas. Town Attorney William Riddick III noted that trucks just driving through would be prohibited.