HomeMy WebLinkAboutORD 1987-020 ORDINANCE N0. 87-20
AN ORDINANCE OF THE CITY COUNCIL OF THE
CITY OF GRAPEVINE, TEXAS, PROVIDING FOR
RESIDENCE HOMESTEAD EXEMPTION FROM AD
VALOREM TAXATION; AND DECLARING AN
EMERGENCY
�
WHEREAS, Article 8 , Section 1-b (e) of the Constitution of
the State of Texas and Section 11 . 13 of the Property Tax Code
�, permit the City of Grapevine, Texas to exempt a percentage of the
assessed market value of the residents homestead of a married or
unmarried adult, including one living alone, from all ad valorem
taxes; and
WHEREAS, the City Council of the City of Grapevine, Texas
desires to exempt from all ad valorem taxes thirty percent (30�)
of the assessed market value, or $5, 000. 00, whichever is greater,
of said residence homestead for the 1987 tax year and twenty
percent (20o) for tax year 1988 and each subsequent tax year
thereafter until repealed.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE
CITY OF GRAPEVINE, TEXAS :
Section 1 . That pursuant to Article 8 , Section 1-b (e) of
the Constitution of the State of Texas and Section 11 . 13 of the
Property Tax Code, thirty percent (30�) of the market value, or
$5, 000. 00 , whichever is greater, of any residence homestead of
any married or unmarried adult, including one living alone, shall
be exempt from all City of Grapevine, Texas (the "City") ad
valorem taxes levied for the tax year 1987, and twenty percent
"�" (20�) for tax year 1988 and each subsequent tax year thereafter
until repealed.
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Section 2 . The fact that Section 11 . 13 (n) of the Property
Tax Code provides that this action must be taken prior to the
first day of May 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 28th day of April, 1987 .
APPROVED:
Mayor
ATTEST:
Yr�r `
Gi.I
Ci y ecretary
APPROVED AS TO FORM:
City Attorney