HomeMy WebLinkAboutOrdinance No. 06/28 Advalorem Tax
ORDINANCE NO. Ofl-?R
AN ORDINANCE OF THE CITY OF UNIVERSITY PARK, TEXAS, LEVYING THE
AD VALOREM TAXES FOR THE FISCAL YEAR 2006-2007 ON ALL TAL'\':ABLE
PROPERTY WITHIN THE CORPORATE LIMITS OF THE CITY OF UNIVERSITY
PARK AS OF JANUARY 1, 2006, TO PROV1DE REVENUES FOR THE PAYMENT OF
CVRRENT EXPENDITlr'RES; PROVIDING FOR THE REPEAL OF ALL ORDINANCES
Ii" CONFLICT; PROVIDING A SEVERABILITY CLAUSE; AND PROVIDING AN
EFFECTIVE DATE.
'VHEREAS, all notices have been given and public hearings held as required by law to adopt a
tax rate tor 2006; NOW, THEREFORE,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF VNIVERSITY
PARK, TEXA.S:
SECTION 1. That there be and is hereby levied for the year 2006, on all taxable property,
real, personal and mixed, situated within the limits of the City of University Park, Texas as of January
1, 2006, and not exempt by the Constitution of the State and valid State laws, a tax of $0.29272 on
each $100.00 assessed valuation of taxable property, and such taxes shall be apportioned and
distlibuted as tallows:
(A) $0.29272 on each and evelY $100.00 valuation of said propelty is hereby levied and
assessed to provide revenues tor maintenance and operations of City government and
current expenses thereof; and
(B) That no rate is set for debt selvice because the City of University Park cun-endy has no
bonded indebtedness.
THIS TAX: RATE WILL RAISE MORE TAXES FOR .MAINTENAl~CE
AND OPERATIONS THAN LAST YEAR'S TAX R4.TE.
THE TAX RATE W1LL RAISE TAXES FOR MAINTENA.N"CE AND
OPERATIONS ON A $100,000 HOME BY APPROXII\1ATELY -$13.49.
SECTION 2. That all ad valorem taxes shall become due and payable on October 1, 2006,
and all ad valorem taxes for the year shall become delinquent after January 31, 2007. That in addition
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to any statutory exemptions for the 2006 tax year, the City Council hereby authorizes a General
Homestead Exemption of twenty 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 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 ~'o) for each additional month or pOltion 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 t\velve percent (120;0) of the amount of the delinquent tax, \vithout regard to the
number of months the tax has been delinquent. A delinquent tax shall also accJUe at the rate of onc
percent (1 %) for each month or portion of a month the tax remains unpaid, Taxes that remain
delinquent On July 1,2007, incur an additional penalty of fifteen percent (15%) of the amount of the
taxes, penalty and interest due. Such additional penalty is to deli-ay costs of collection due to a
contract with the City's tax collection atromey 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 tIns ordinance are hereby repealed.
SECTION 5. That should any sentence, paragraph, subdivision, clause, phrase or section of
tins ordinancc be adjudged or held to be unconstitutional, illcgal or invalid, tile same shall not
affect the validity of this ordinancc as a whole or any part or provision thereof other than the pan:
thereof decided to be unconstitutional, illegal or invalid.
SECTION 6. TIns ordinance shall take effect on October 1,2006.
DULY PASSED by the City Council of the City ofUlnversity Park, Texas, on tile 3rd day of
October, 2006.
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~JR
CITY ATTORL"JEY
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