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HomeMy WebLinkAboutOrdinance 9205,~. .~=~ -~ ~' ~ _ ,~ ORDINANCE NO. % °?©~ AN ORDINANCE BY THE CITY COUNCIL OF THE CITY OF FORT WORTH EXEMPTING FROM AD VALOREM TAXES A PERCENTAGE OF THE APPRAISED VALUE OF A PERSON'S RESIDENCE HOMESTEAD AND DECLARING AN EFFECTIVE DATE. WHEREAS, Article 8, Section 1-b, Subsection (e) of the Texas Constitution permits a city to exempt from ad valorem taxation a percentage of the appraised value of the residence homestead of a married or unmarried person, including one living alone, provided that such exemption may not exceed 40 percent for the year 1984; and WHEREAS, the amount of the exemption authorized pursuant to such provision may not be less than $5000; and WHEREAS, it is the desire of the City Council to authorize such a residence homestead exemption; NOW THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH, TEXAS: SECTION I. Fifteen percent of the appraised value of the residence home- stead of a married or unmarried person, including one living alone, is hereby exempted from 1984 ad valorem taxes levied by the City. If the exemption authorized by this section produces an exemption of less than five thousand dollars when applied to a particular resi- dence homestead, the person shall be entitled to an exemption of $5,000 of the appraised value. A person who is eligible for an exemption under this section shall also be entitled to receive other applicable exemptions provided for by law, including an additional residence homestead exemption for persons sixty-five years of age or older where applicable. SECTION II. 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, .. ~--~, ~.~,: ~~ . ~, sections or parts of sections of this ordinance, which provision shall be, remain and continue to be in full force and effect. SECTION III. This ordinance shall take effect upon its passage and will apply to the ad valorem tax levy for the year 1984 only. APPROVED AS TO FORM AND LEGALITY: City Attorney Date : ~ ' ~ ~ ~- ADOPTED: EFFECTIVE: lx -2-