HomeMy WebLinkAboutOrdinance 8407r'
1.
ORDINANCE NO ~~
AN ORDINANCE BY THE CITY COUNCIL OF THE CITY OF
FORT WORTH PROVIDING A RESIDENTIAL HOMESTEAD
EXEMPTION FROM AD VALOREM TAXES FOR ELDERLY
PERSONS PROVIDING A SEVERABILITY CLAUSE AND
DECLARING AN EFFECTIVE DATE
WHEREAS Article 8 Section 1-b of the Constitution
of the State of Texas permiL-s a city to exempt by its own
action not less than $3 000 00 of the market value of
residence homestead of disabled and elderly persons and
WHEREAS in 1978 the City Council of the City of
Fort Worth set a residential homestead exemption for the
elderly of $10 000 00 on the assessed valuation of a
residence and
/~ WHEREAS the ad valorem assessed in 1981 will be
on a 100% valuation of ~pr.operty as required by the Property
Tax Code of the State of Texas while ad valorem taxes as-
sessed in prior years were based on a 55% valuation rate
and
WHEREAS it is necessary to raise the residence
homestead exemption for elderly in order to compensate
for the change to the 100% valuation tax assessment and
WIiEREAS it is not necessary to raise the resi-
dential homestead exemption for disabled persons because
such exemption is presently based on a 100% valuation of
property rather than a 55% assessed valuation rate now
therefore
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
FORT WORTH TEXAS
SECTION 1
There is hereby exempted the sum of Eighteen
Thousand One Hundred and Eighty Two Dollars ($.1.8 182 00)
of the market value of residence homesteads of persons
married or unmarried sixty-five (65) years of age or
tt
/rte i!~'+
older including those living alone from all ad valorem
taxes .thereafter levied by the City
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 levies commencing with
the year 1981
APPROVED AS TO FORM AND LEGALITY
City Attorney
ADOPTED ~ / / ~~
EFFECTIVE ~
~~ r~.~~..:~ pity ®f' ~®r~ ~®~°t~., ~e~c~¢~
Js~fayor and Coun~al Coa~.mun~,cata.on
DA E NUMBER CE `SUBJECT Residentlal HOmeStead ExemptlOri PAGE
9/8/81 ~mr the Elderly and Disabled 1
~,~-5091 i ar
In 1978, the City Council set a residential homestead exemption for
elderly and disabled persons of $10,000 This exemption was set
at a time when the City had a 55% valuation rate The property
Tax Code requires that taxing entities tax on a basis of 100%
valuation and, therefore, it is necessary to raise the residence
homestead exemption to compensate for the change to 100% valuation
Recommendation
It is recommended that the City Council adopt the attached ordinance
raising the .residential homestead for elderly and disabled from
$10,000 to $18 182
MCM J c
Attachment
I APPROVED BY
CITY COUNCIL
SEP 3 1981
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j ecxetary of Lhe
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SUBMITTED FOR THE '"" ~'`~ ~-.,w_
CITY MANAGER'S ~
OFFICE BY
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ROCESSED BY
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ORIGINAtING Darrell Samuel
DEPARTMENT HEAD: ^ OTHER (DESCRIBE)
O g ~ CIi'Y SECRETARY
FOR ADDITIONAL INFORMATION
CONTACT Darrell Samuel Ext, 6665 DATE