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HomeMy WebLinkAboutORD 2015-051ORDINANCE NO. 2015-051 AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF GRAPEVINE, TEXAS, SETTING THE ANNUAL TAX RATE FOR TAX YEAR 2015 LEVYING TAXES TO BE ASSESSED ON ALL TAXABLE PROPERTY WITHIN THE LIMITS OF THE CITY OF GRAPEVINE, TEXAS; PROVIDING PENALTIES AND INTEREST FOR THE DELINQUENT TAXES; DECLARING AN EMERGENCY AND PROVIDING AN EFFECTIVE DATE WHEREAS, the City Council of Grapevine, Texas has approved an operating budget for the fiscal year 2015-2016 (FY2016), in compliance with appropriate state laws and the Charter of the City of Grapevine; and WHEREAS, public hearings were held on the FY2016 budget and all interested parties were given an opportunity to be heard for or against any item contained therein; and WHEREAS, an ad valorem tax rate of $0.328437 per $100 valuation has been considered for tax year 2015. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF GRAPEVINE, TEXAS: Section 1. That a tax rate is hereby levied upon all taxable property in the City of Grapevine, Texas for tax year 2015 at a rate of thirty-two eighty-four thirty-seven hundreds cents ($0.328437) per one hundred dollars ($100.00) valuation. THIS TAX RATE WILL RAISE MORE TAXES FOR MAINTENANCE AND OPERATIONS THAN LAST YEAR'S TAX RATE. THE TAX RATE WILL EFFECTIVELY BE RAISED BY4.42 PERCENTAND WILL RAISE TAXES FOR MAINTENANCE AND OPERATIONS ON A $100,000 HOME BY APPROXIMATELY $14.66. Section 2. That there shall be and there is hereby levied the following taxes on each one hundred dollars ($100.00) valuation on all taxable property within the City of Grapevine, Texas, to be assessed and collected by the Tax Assessor/Collector and collected for tax year 2015, and said taxes are to be assessed and collected for the purposes and in the amounts hereinafter stipulated, to -wit: A. For the General Fund, a tax rate of $0.142070 per $100 is levied. B. For Debt Service, a tax rate of $0.186367 per $100 is levied Section 3. That taxes levied by this ordinance shall be due and payable on the first day of October, 2015 and shall become delinquent on the first day of February, 2016, if unpaid. Upon taxes becoming delinquent, interest and penalty will be added as required in Section 33.01 of the Texas Property Tax Code, and shall commence on the first day of February, 2016. The City of Grapevine is hereby authorized to adopt any and all legal remedies provided by the Texas Property Tax Code for the purpose of collecting delinquent taxes. Section 4. That the fact that the fiscal year begins on October 1, 2015 requires that this ordinance be effective upon its passage and adopted to preserve the public peace, property, health, and safety, and shall be in full force and effect from and after its passage and adoption, and an emergency is hereby declared. PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF GRAPEVINE, TEXAS, on this the 15th day of September, 2015. 020 0 William D. Tate Mayor Llk&ZL/ Tara Brooks City Secretary F.111 a a John F. Boyle, Jr. City Attorney