HomeMy WebLinkAboutOrdinance 1730 _ t
ORDINANCE NO. 1730
AN ORDINANCE RATIFYING AND CONFIRMING THE PRAC-
TICE OF THE ASSESSOR AND COLLECTOR OF TAXES OF
THE CITY OF FORT WORTH OF FIRST DETERMINING THE
FAIR MARKET VALUE OF THE REAL, PERSONAL AND MIX-
ED PROPERTY SITUATED IN THE SAID CITY SUBJECT
TO TAXATION, AND THEN TAKING FIFTY-FIVE PER CENT.
(55%) OF THAT AMOUNT THUS SET UP ON THE BOOKS
AND RECORDS OF THE TAX OFFICE AS THE ASSESSED
VALUE OF SUCH PROPERTY.
BE IT ORDAINED BY'THE CITY COUNCIL OF THE CITY OF
FORT WORTH:
SECTION I.
THAT, WHEREAS, it appearing to the City Council that
pursuant to the instructions given to the Assessor and Collec-
tor of taxes of the City of Fort Worth by the said City Council,
the said Assessor and Collector of taxes did, during the years
1930 and 1931, determine the fair 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 first day of January of
each of those respective years, subject to taxation and not ex-
empt by the laws and Constitution of this state, and that he en-
tered such value upon the Tax Books and Records of said city and
that after the fair and reasonable market value of such property
had been determined and entered on the books as a part of the
permanent records of the Tax Department, fifty-five per cent
(55%) of the amount of such value was taken as the assessed value
of such property.
SECTION II,
That the practice of the Assessor and Collector of tax-
es 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 Worth, Texas, of determin-
ing the actual cash value thereof by first ascertaining the fair
and reasonable market value of such taxable property and then
applying fifty-five per cent (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 Worth
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 fifty-five
per cent (55%) of such fair market value as the said assessed
value.
SECTION IV.
It is hereby declared that the valuation of property
subject to taxation in the City of Fort Worth, Texas, for the
years 1930 and 1931 was made in accordance with the terms of this
ordinance.
SECTION V.
That this ordinance shall take effect and be in full
force and effect from and after the date of its passage.
APPROVED AS TO FORM:
R. E. ROVER
city Morney