HomeMy WebLinkAbout03/24 Tax FY2003-2004 ORDINANCE NO. 03/24
AN ORDINANCE OF THE CITY OF UNIVERSITY PARK, TEXAS, LEVYING
THE AD VALOREM TAXES FOR THE FISCAL YEAR 2003-2004 ON ALL TAXABLE
PROPERTY WITHIN THE CORPORATE LIMITS OF THE CITY OF UNIVERSITY
PARK AS OF JANUARY 1, 2003, TO PROVIDE REVENUES FOR THE PAYMENT OF
CURRENT EXPENDITURES; PROVIDING FOR THE REPEAL OF ALL
ORDINANCES IN CONFLICT; PROVIDING A SEVERABILITY CLAUSE; AND
PROVIDING AN EFFECTIVE DATE.
WHEREAS, all notices have been given and public hearings held as required by law to
adopt a tax rate for 2003; NOW, THEREFORE,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF UNIVERSITY
PARK, TEXAS:
SECTION 1. That there be and is hereby levied for the year 2003, on all taxable
properly, real, personal and mixed, situated within the limits of the City of University Park, Texas
as of January 1, 2003, and not exempt by the Constitution of the State and valid State laws, a tax
of $0.32601 on each $100.00 assessed valuation of taxable properly, and such taxes shall be
apportioned and distributed as follows:
(A) $0.32601 on each and every $100.00 valuation of said properly is hereby levied
and assessed to provide revenues for maintenance and operations of City
government and current expenses thereof; and
(B) That no rate is set for debt service because the City of University Park currently
has no bonded indebtedness.
SECTION 2. That all ad valorem taxes shall become due and payable on October 1,
2003, and all ad valorem taxes for the year shall become delinquent after January 31, 2004. That
in addition to any statutory exemptions for the 2003 tax year, the City Council hereby authorizes a
General Homestead Exemption of twenly percent (20%) of the assessed value and an Over Sixty-
five Years of Age Exemption of $50,000.00 on the assessed value.
SECTION 3. That a delinquent tax shall incur all penally and interest authorized by law,
SECTION 3. That a delinquent tax shall incur all penalty and interest authorized by law,
including a penalty of six percent (6%) on the amount of the tax for the first calendar month it is
delinquent, plus one percent (1%) for each additional month or portion of a month the tax remains
unpaid prior to July 1 of the year in which it becomes delinquent. A tax delinquent on July 1 incurs
a total penalty of twelve percent (12%) of the amount of the delinquent tax, without regard to the
number of months the tax has been delinquent. A delinquent tax shall also accrue at the rate of one
percent (1%) for each month or portion of a month the tax remains unpaid. Taxes that remain
delinquent on July 1, 2004, incur an additional penalty of fifteen percent (15%) of the amount of the
taxes, penalty and interest due. Such additional penalty is to defray costs of collection due to a
contract with the City's tax collection attomey pursuant to Section 33.07 of the Tax Code.
SECTION 4. That all ordinances of the City of University Park in conflict with the
provisions of this ordinance are hereby repealed.
SECTION 5. That should any sentence, paragraph, subdivision, clause, phrase or section
of this ordinance be adjudged or held to be unconstitutional, illegal or invalid, the same shall not
affect the validity of this ordinance as a whole or any part or provision thereof other than the part
thereof decided to be unconstitutional, illegal or invalid.
SECTION 6. This ordinance shall take effect on October 1, 2003.
DULY PASSED by the City Council of the City of University Park, Texas, on the 2nd day
of September, 2003.
O PEEK, MAYOR
ATTEST:
CITY ATTORNEY
NINA WILSON, CITY SECRETARY
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