HomeMy WebLinkAboutOrdinance 99704
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ORDINANCE NO.
AN ORDINANCE PROVIDING FOR THE LEVY AND COLLEC-
TION OF AN ANNUAL AD VALOREM TAX ON ALL PROPER-
TY, REAL, PERSONAL AND MIXED, SITUATED WITHIN
THE TERRITORIAL LIMITS OF THE CITY OF FORT
WORTH, TEXAS, AND ALL PERSONAL PROPERTY OWNED IN
SAID CITY OF FORT WORTH, TEXAS, ON THE FIRST DAY
OF JANUARY, A.D. 1987, EXCEPT SUCH PROPERTY AS
MAY BE EXEMPT FROM TAXATION BY THE CONSTITUTION
AND LAWS OF THE STATE OF TEXAS.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT
WORTH, TEXAS:
SECTION I.
There is hereby levied, adopted and shall be collected by the
City of Fort Worth, Texas, as provided by law, an annual ad valorem
tax for the year 1987, at the rate of $0.7853 on every One Hundred
Dollar ($100.00) valuation on all property, real, personal and
mixed, situated in and all personal property owned in the City of
Fort Worth, Texas, on the first day of January, A.D. 1987, liable
under the law to taxation and not exempt therefrom by the
Constitution and laws of the State of Texas. The ad valorem tax rate
is divided into a maintenance and operation levy of $0.5026 for
general fund operations and a debt levy of $0.2827 for servicing
outstanding debt obligations.
SECTION II.
The debt portion of the tax levy which is hereinbefore made is
to provide for the payment of interest and to create a redemption
fund to discharge and pay principal and interest on any obligations
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due or owing by the City of Fort Worth, Texas, and shall not be
taken as an addition to levies for the same purpose in the respec-
tive ordinances authorizing and creating such obligations, but the
levy~hereinbefore made is made pursuant to and for the purpose of
carrying out and complying with the provisions of said prior ordi-
nances. The Chief Accounting Officer shall pay each week to the
General Debt Service Fund thirty-six percent (36%) of the current
taxes collected.
SECTION III.
The taxes provided for herein are levied upon all taxable
property, real, personal and mixed, situated in and all personal
property owned in the City of Fort Worth, Texas, as assessed, valued
and described in the assessment tax rolls and the tax books of the
City of Fort Worth, Texas, for the year 1987, and any supplemental
assessments thereof, as the same have been or shall be presented to
the City Council of the City of Fort Worth, Texas, by the Assessor
and Collector of Taxes of said City of .Fort Worth, Texas.
SECTION IV.
The taxes provided for herein are due on receipt of a tax bill
and are delinquent if not paid before February 1, 1988. Failure to
send or receive the tax bill shall not, however, affect the validity
of the taxes, penalty or interest herein imposed, the due date, the
existence of a tax lien, or any procedure instituted to collect such
taxes, penalty or interest.
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SECTION V.
A delinquent tax incurs a penalty of six percent (6%) of the
amount of the tax for the first calendar month it is delinquent plus
one percent (1°s) for each additional month or portion of a month the
tax remains unpaid prior to July 1, 1988. However, a tax delinquent
on July 1, 1988, incurs a total penalty of twelve percent (12%) of
the amount of the delinquent tax without regard to the number of
months the tax has been delinquent.
SECTION VI.
In addition to the penalty set out above, a delinquent tax
accrues interest at a rate of one percent (1%) for each month or
portion of a month the tax remains unpaid. Said interest of one
percent (1%) per month shall be added to said taxes in the event the
payment thereof shall become delinquent as above set forth, and said
interest shall attach on the first day of each month thereafter
until the taxes shall have been paid, which interest and the penalty
provided for above shall be and become a part of said taxes and be
payable as such.
SECTION VII.
A tax delinquent on July 1, 1988, incurs an additional penalty
of fifteen percent (15%) of the amount of the delinquent tax,
penalty and interest to defray costs of collection. Such fifteen
percent (15%) penalty is imposed pursuant to Section 6.30 of the
Property Tax Code and is in addition to the other penalties and
interest which are due and owing according to law.
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SECTION VIII.
Such taxes, penalty and interest shall be and become a lien
upon the property on which the taxes are levied, as prescribed by
the Charter of the City of Fort Worth, Texas, and the laws of the
State of Texas, and such lien shall be and is hereby made a
paramount, first and superior lien to all other liens whatsoever on
the property on which said taxes are levied.
SECTION IX.
Should any part, portion, section or part of a section of this
ordinance be declared invalid or inoperative or void for any reason
by a court of competent jurisdiction, such decision, opinion or
judgment shall in no way affect the remaining portions, parts, sec-
tions or parts of sections of this ordinance, which provision shall
be, remain and continue to be in full force and effect.
SECTION X.
This ordinance shall take effect and be in full force and
effect from and after the date of its passage as provided by law.
APPROVED AS TO FORM AND LEGALITY:
City Attorney
Date: ~ - ZZ _g'
ADOPTED: ~ 11 ~~,
EFFECTIVE: y~~~''r~/
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