HomeMy WebLinkAboutOrdinance 1225 ORDINA►TCF N0.,. 2�'Y�
AN ORDINANCE RATIFYING AND C TTFIF1IING THE
PRACTICE OF THE ASSESSOR AND COLLECTOR OF
TAXES OF THE CITY OF FORT M- RTH OF FIRST
DETERTINING THE TRUE FULL MID MARKET VALUE
OF THE REAL, PERS ONIL A"•ID M IX c'D PROPERTY
SITUATED IN SAID CITY SUBJECT TO TAXA^ION
AND THEN TAKING 55 PER CENT OF THAT AtiOUNT
THUS SET UP ON TIC BOOKS AM RECORDS OF THE
TAX OFFICE AS THE ASSESSED VALUE OF THE PRO—
PERTY.
BE IT ORDAINED BY THE CITY COUNCIL OF THE
CITY OF FORT TORTH:
SEC T ION I.
That whereas, it appearing to the City Council that
pursuant to the instructions given to the Assessor and Col-
lector of Taxes of the City of Fort North by the said City
Council, the said Assessor and Collector of taxes did during
the year 1926, determine the true, full and market value of
all of the real, personal and mixed property situated within
the limits of the City of Fort Worth, Texas, as of the 1st
day of January, 1926, subject to taxation and not exempt by
the laws and Constitution of this State and that he entered
such value upon the Tax Books and Records of said City and
that after the fair and reasonable market value of such pro-
perty had been determined and entered on the books as a part
of the permanent records of the Tax Department 55% of the
amount Qf such value was taken as the assessed value of such
property.
SECTION II.
That the practice of the Assessor and Collector
of taxes of the City of Fort Worth and other officials of
said City dealing with the matter of assessing property
for the purpose of taxation within the City of Fort North,
Texas, of determining the actual cash value thereof by
first ascertaining the fair and reasonable market value of
such taxable property and then applying 55% to such fair
and reasonable market value to determine the assessed value,
is and the said practice is hereby in all things confirmed,
ratified and adopted.
SECTION III.
The valuation of property within the City of Fort
;forth, subject to taxation for municipal purposes and not
exempt by the laws and Constitution of this State, shall be and
is the actual cash value thereof and the said actual cash
value shall be arrived at by the Assessor first determining
the fair market value of such taxable property and using
not exceeding 55% of such fair market value as the said
assessed value.
SECTION IV.
That this ordinance shall take effect and be in full
force and effect from and after the date of its passage.
.APPROVED AS TO FOIY:
i y Attorney.
ORDINANCE
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Date
Fie \« 2\ day of, ^
19 \
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,citySecretary «