HomeMy WebLinkAboutORD 1986-058 ORDINANCE NO. 86-58
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
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WHEREAS, Article 8 , Section 1-b (e) of the Constitution of
the State of Texas and Section 11 . 13 of the Property Tax Code
�, permits the City of Grapevine, Texas to exempt a percentage of
the assessed market value of the residence 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 (300)
of the assessed market value, or $5, 000 . 00, whichever is greater,
of said residence homestead.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE
CITY OF GRAPEVINE, TEXAS:
Section l . 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 (30o) 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
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valorem taxes levied for the tax year 1986 .
Section 2 . The fact that the fiscal year begins on
�, October 1, 1986 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 16th day of September, 1986 .
APPROVED:
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Mayor
ATTEST:
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Cit Secretary
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APPROVED AS TO FORM:
City Attorney