HomeMy WebLinkAbout1997-257A \ADVALORE
ORDINANCE NO/
AN ORDINANCE LEVYING THE AD VALOREM TAX OF THE CITY OF DENTON,
TEXAS, FOR THE YEAR 1997, ON ALL TAXABLE PROPERTY WITHIN THE COR-
PORATE LIMITS OF THE CITY ON JANUARY 1, 1997, NOT EXEMPT BY LAW,
PROVIDING REVENUES FOR PAYMENT OF CURRENT MUNICIPAL EXPENSES, AND
FOR INTEREST AND SINKING FUND ON OUTSTANDING CITY OF DENTON BONDS,
PROVIDING FOR LIMITED EXEMPTIONS OF CERTAIN HOMESTEADS, PROVIDING
FOR ENFORCEMENT OF COLLECTIONS, PROVIDING FOR A SEVERABILITY
CLAUSE; AND PROVIDING AN EFFECTIVE DATE
THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS
SECTION I. That by authority of the charter of the City of
Denton, Texas, and the Laws of the State of Texas, there is hereby
levied for the year 1997, on all taxable property situated within
the corporate limits of the City of Denton on January 1, 1997, and
not exempt by the Constitution and Laws of the State of Texas or
by Sections IV, V, and VI of this ordinance, a tax of $0 51315 on
each $100 assessed value of all taxable property
SECTION II. That of the total tax, $0 32008 of each $100 of
assessed value shall be distributed to the General Fund of the
City to fund maintenance and operation expenditures of the City
SECTION III That of the total tax, $0 19307 of each $100 of
assessed value shall be distributed to pay the City's debt service
as provided by Section 26 04(e)(3) of the Texas Property Tax Code
SECTION IV That pursuant to Article VIII, Section 1-b of the
Texas Constitution, and pursuant to the provisions of Section
11 13(n) of the Texas Property Tax Code, one-half of one percent
of the assessed value of residential homesteads, or $5,000 of the
assessed value of residential homesteads, whichever amount shall
be greater, shall be exempt from City ad valorem taxes
ACTION V That pursuant to Article VIII, Section 1-b of the
Texas Constitution, $25,000 of the assessed value of residential
homesteads of persons sixty-five (65) years of age or older shall
be exempt from City ad valorem taxes
SECTION VI That pursuant to Article VIII, Section 1-b of the
Texas Constitution, $10,000 of the assessed value of residential
homesteads of disabled persons shall be exempt from City ad
valorem taxes
3�CTION VII That for enforcement of the collection of taxes
hereby levied, the City of Denton shall have available all rights
and remedies provided by law
SECTION VIII. That if any section, subsection, paragraph,
sentence clause phrase or word in this ordinance, or the
,
application thereof to any person or circumstance is held invalid
by any court of competent 3urisdiction, such holding shall not
affect the validity of the remaining portions of this ordinance
and the City Council of the City of Denton, Texas, hereby declares
it would have enacted such remaining portions despite any such
invalidity
az TION IX That this ordinance shall become effective immed-
iately upon its passage and approval
PASSED AND APPROVED this the _ day of 1997
JACI MILL , MAYOR
ATTEST
JENNIFER WALTERS, CITY SECRETARY
!"!
APPR&ED AS TO LEGAL FORM
HERBERT L PROUTY, CITY ATTORNEY
BY &'
PAGE 2