HomeMy WebLinkAboutItem 02 - Ad Valorem Tax RateITEM
MEMO TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
FROM: ROGER NELSON, CITY MANAGER/W
MEETING DATE: SEPTEMBER 12, 2000
SUBJECT: ADOPTION OF THE AD VALOREM TAX RATE
RECOMMENDATION:
Staff recommends City Council consider an ordinance adopting a tax rate of $0.375 per
$100.00 valuation for fiscal year 2000-2001, apportioned as follows:
for the General Fund, a tax rate of $.189641/$100, for Debt Service, a tax rate of
$.185359.
BACKGROUND INFORMATION:
The FY 2000-2001 budget was developed and completed using an appraised value of
$4,177,920,179, which is the sum of the certified roll and the minimum value of all
properties pending disposition before the Appraisal Review Board. This value has also
been used in the effective tax rate calculation. The FY 2000-2001 budget also includes
the General Fund and Debt Service rates noted above.
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September 7, 2000 8:36AM
ORDINANCE NO.
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF
GRAPEVINE, TEXAS, SETTING THE ANNUAL TAX RATE
FOR TAX YEAR 2000; LEVYING TAXES FOR THE TAX
YEAR 2000 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
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 2000 and a rate of thirty-seven and one-half cents
($0.375) per One Hundred Dollars ($100.00) valuation.
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/Col lector and
collected for Tax Year 2000, 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 $0.189641 is levied.
B. For Debt Service, a tax rate of $0,185359 is levied.
Section 3. Taxes levied by this ordinance shall be due and payable on the first
day of October, 2000 and shall become delinquent on the first day of February, 2001, 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, 2001. 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. The fact that the fiscal year begins on October 1, 2000 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 12th day of September, 2000.
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