HomeMy WebLinkAboutResolution 753 i
E 11 5- a-
A Resolution
WHEREAS, the effects of spiralling inflation on property values have I
increased the tax burdens on residential homestead property owners; and
WHEREAS, residential homestead property has no income producing cap- I
ability to compensate for the inflationary trend; and
WIIEREAS, the City Council has ascertained a need for tax relief to
soften the impact on homeowners of these rising property values;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
FORT WORTH:
SECTION 1 . That the City Council hereby urges the adoption of an f
amendment to the Texas Constitution that would allow local communities to 1I
provide a residential homestead exemption from ad valorem taxes of not
less than $5,000 of the market 'ualue nor more than 20 percent of the
market value with authority to establish a dollar limitation on the amount
iexempted.
SECTION 2. That the Mayor shall transmit this resolution to Governnor
Clements and to all Fort Worth members of the State Legislature.
SECTION 3. That Councilman Williams shall transmit this resolution to
the Resolutions Committee of the Texas Municipal League.
SECTION 4. That this resolution shall take effect immediately from and
after passage in accordance with the provisions of the Charter, and it is
accordingly so resolved.
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MY of "RT WORTH