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HomeMy WebLinkAboutOrdinance No. 08/56 Amendment to 08/47ORDINANCE NO. 08/56 AN ORDINANCE OF THE CITY OF UNIVERSITY PARK, TEXAS, AMENDING ORDINANCE NO. 08/47 TO PROVIDE EXEMPTIONS FOR DISABLED PERSONS AND PERSONS OVER SIXTY-FIVE YEARS OF AGE AS PERMITTED BY THE TAX CODE; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, Ordinance No. 08/47, levying the ad valorem taxes for the fiscal year 2008- 2009, inaccurately stated the over 65 and disabled persons exemptions heretofore approved by the City Council; NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF UNIVERSITY PARK, TEXAS: SECTION 1. That Section 2 of Ordinance No. 08/47 is amended to read: "SECTION 2. That all ad valorem taxes shall become due and payable on October 1, 2008, and all ad valorem taxes for the year shall become delinquent after January 31, 2009. That in addition to any statutory exemptions for the 2008 tax year, the City Council hereby authorizes a general homestead exemption of twenty percent of the assessed value, and an exemption from taxation of $250,000 of the appraised value of the residence homestead of an individual who is sixty-five years of age or older or an individual who is disabled. "Disabled" means a person having a disability for purposes of payment of disability insurance benefits under the Federal Old Age Survivors and Disability Insurance Act." SECTION 2. This ordinance shall take effect immediately upon its passage, as the law and Charter in such cases provide. DULY PASSED by the City Council of the City of University Park, Texas, on the 21S` day of October 2008. APPROVED: AP ROVED AS TO , ~ CITY ATTORNEY TEST: BRANDY VOG , CITY S RETARY