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2010-212s:\Legal\Our Documentsl0rdimmees11Mad valorem tax.doc ORDINANCE NO. 2010-212 AN ORDINANCE OF THE CITY OF DENTON, TEXAS, LEVYING THE AD VALOREM PROPERTY TAX OF THE CITY OF DENTON, TEXAS, FOR THE YEAR 2010, ON ALL TAXABLE PROPERTY WITHIN THE CORPORATE LIMITS OF THE CITY ON JANUARY 1, 2010, AND ADOPTING A TAX RATE OF $0.68975 PER $100 OF VALUATION FOR 2010; PROVIDING REVENUES FOR PAYMENT OF CURRENT MUNICIPAL MAINTENANCE AND OPERATION EXPENSES AND FOR PAYMENT OF INTEREST AND PRINCIPAL ON OUTSTANDING CITY OF DENTON DEBT; PROVIDING FOR LIMITED EXEMPTIONS OF CERTAIN HOMESTEADS; PROVIDING FOR ENFORCEMENT OF COLLECTIONS; PROVIDING FOR A SEVERABILITY CLAUSE; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, after notice of a public hearing on the budget was published in the DRC and posted on the City's internet web site and its public access television channel as required by law on August 27, 2010, the City Council of the City of Denton, Texas, (City) held one public hearing on the proposed budget. This budget will raise more total property taxes than last years budget by $795,459 or 1.89% and of that amount $934,827 is tax revenue to be raised from new property added to the tax roll this year and the notice showing the effect of the proposed tax revenue increase was posted on the City's web site and the City's public access television channel and any additional notices and actions were completed, as required by law; and WHEREAS, this Ordinance sets a tax rate of $0.68975 that, if applied to the total taxable value, will impose an amount of taxes to fund maintenance and operation expenditures of the City that exceeds the amount of taxes imposed for that purpose in 2009; and WHEREAS, the City Council deems it in the public interest to adopt a tax rate for the 2010 tax year of $0.68975; NOW, THEREFORE, THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS: SECTION 1. The findings set forth in the preamble of this Ordinance are incorporated by reference into the body of this Ordinance as if fully set forth herein. SECTION 2. By authority of the Charter of the City of Denton, Texas, and the Laws of the State of Texas, there is hereby levied and adopted for the tax year 2010, on all taxable property situated within the corporate limits of the City of Denton, Texas, on January 1, 2010, a tax rate of $0.68975 for each $100 of taxable value. This tax rate is expected to increase total revenue from properties on the tax roll by 1.89% over 2009 tax revenues. SECTION 3. Of the total tax rate, $0.47088 for each $100 of taxable value is hereby included, adopted and shall be distributed to the General Fund of the City to fund maintenance and operation expenditures of the City in accordance with Section 26.05(a)(2) of the Texas Property Tax Code and any other applicable laws. SECTION 4. Of the total tax rate, $0.21887 for each $100 of taxable value is hereby included, adopted and shall be distributed to pay the City's debt service as provided by Sections 26.04(e)(3)(C) and 26.05(a)(1) of the Texas Property Tax Code and any other applicable laws. SALegal\0ur Documents\0rdinanees\10\ad valorem tax.doc SECTION 5. THIS TAX RATE WILL RAISE MORE TAXES FOR MAINTENANCE AND OPERATIONS THAN LAST YEAR'S TAX RATE. SECTION 6. The City Manager, or his designee, is directed to include the following statement on the home page of the City's Internet website: THE CITY OF DENTON, TEXAS, ADOPTED A TAX RATE THAT WILL RAISE MORE TAXES FOR MAINTENANCE AND OPERATIONS THAN LAST YEAR'S TAX RATE. SECTION 7. This budget will raise more total property taxes than last years budget by $795,459 or 1.89% and of that amount $934,827 is tax revenue to be raised from new property added to the tax roll this year and the notice showing the effect of the proposed tax revenue increase was posted on the City's web site and the City's public access television channel and any additional notices and actions were completed, as required by law. SECTION 8. Pursuant to Article 8, 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 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. SECTION 9. Pursuant to Article 8, Section 1-b of the Texas Constitution, $35,000 of the assessed value of residential homesteads of persons 65 years of age or older shall be exempt from City ad valorem taxes for 2010. The total amount of the assessed value of the exemption provided for in this section shall increase in $5,000 annual increments until such time as a total exemption amount of $50,000 is attained in accordance with the following: 2011 - $40,000 2012 - $45,000 2013 - $50,000 SECTION 10. Pursuant to Article 8, 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. SECTION 11. For enforcement of the collection of taxes hereby levied, the City of Denton shall have available all rights and remedies provided by law. SECTION 12. 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 jurisdiction, 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. SECTION 13. This Ordinance shall become effective immediately upon its passage and approval at a regular meeting of the City Council of the City of Denton, Texas, on this the 21St day of September 2010, at which meeting a quorum was present and the meeting was held in accordance PAGE 2 SALegal\0ur Documents\Ordinances\101ad valorem tax.doc with the provisions of the Tex. Gov't Code, Section 551.001 et seq. The City Secretary is hereby directed to record this Ordinance and the vote to adopt the tax rate. i PASSED AND APPROVED this the ATTEST: JENNIFER WALTERS, CITY SECRETARY BY: 0-4 ~ APPRO ED Ai SO LEGAL FORM: ANITA BURGESS, CITY ATTORNEY BY: LAI% Council Member Marls A. Burroughs, Mayor Charlye Heggins Dalton Gregory Jim Engelbrecht Chris Watts Pete Kamp, Mayor Pro Tern James King Voted For Voted Against PAGE 3