From
Diana G. Ortiz
Title
Ordinance adopting and levying the ad valorem tax for the Fiscal Year 2015/2016 at a rate of $.669998 per $100 of assessed value on all taxable property within the corporate limits of the city on January 1, 2015, not exempt by law; providing revenues for payment of current municipal expenses, and for interest and sinking fund on outstanding City of Grand Prairie bonds; providing for enforcement of collections; providing for a severability clause; and providing an effective date
Presenter
Diana G. Ortiz, Chief Financial Officer
Recommended Action
Approve
Analysis
The proposed rate of $.669998 per $100 valuation is used to fund the fiscal year 2015/2016 balanced budget and has not changed from the current rate.
Financial Consideration
Property taxes will be allocated to the General Fund and Interest & Sinking (Debt) Fund based on their respective components on $.484892 and $.185106 per $100 valuation.
Body
AN ORDINANCE OF THE CITY OF GRAND PRAIRIE, TEXAS, ADOPTING AND LEVYING THE AD VALOREM TAX OF THE CITY OF GRAND PRAIRIE, TEXAS, FOR THE YEAR 2015, ON ALL TAXABLE PROPERTY WITHIN THE CORPORATE LIMITS OF THE CITY ON JANUARY 1, 2015, NOT EXEMPT BY LAW; PROVIDING REVENUES FOR PAYMENT OF CURRENT MUNICIPAL EXPENSES, AND FOR INTEREST AND SINKING FUND ON OUTSTANDING CITY OF GRAND PRAIRIE BONDS; PROVIDING FOR A SEVERABILITY CLAUSE; AND PROVIDING AN EFFECTIVE DATE
WHEREAS, the City Council deems it in the public interest to adopt a tax rate for the 2015 tax year;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF GRAND PRAIRIE, TEXAS:
SECTION 1. THAT by authority of the Charter of the City of Grand Prairie, Texas, and the Laws of the State of Texas, there is hereby levied for the year 2015, on all taxable property situated within the corporate limits of the City of Grand Prairie on January 1, 2015, and not exempt by the constitution and laws of the State of Texas or municipal ordinance, a tax of $.669998 on each $100 assessed value of all taxable property.
SECTION 2. THAT of the total tax, $.484892 of each $100 of assessed value shall be distributed to the General Fund of the City to fund maintenance and operation expenditures of the City. This tax rate will not raise more taxes for maintenance and operations than last year's tax rate. The tax rate will effectively be raised by 4.87% and will not raise taxes for maintenance and operations on a $100,000 home.
SECTION 3. THAT of the total tax, $.185106 of each $100 of assessed value shall be distributed to pay the City's debt service as provided by Section 26.04(e)(3) of the Texas Property Tax Code.
SECTION 4. THAT ad valorem taxes levied by this ordinance shall be due and payable on October 1, 2015 and shall become delinquent on the first day of February, 2016.
SECTION 5. THAT for enforcement of the collection of taxes hereby levied, the City of Grand Prairie shall have available all rights and remedies provided by law.
SECTION 6. THAT if any section, subsection, paragraph, sentence, clause, phrase or word in this ordinance, or the application thereof to any person or circumstance is held invalid by any court of competent jurisdiction, such holding shall not affect the validity of the remaining portions of this ordinance and the City Council of the City of Grand Prairie, Texas, hereby declares it would have enacted such remaining portions despite any such invalidity.
PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF GRAND PRAIRIE, TEXAS, ON THIS THE 15th DAY OF SEPTEMBER, 2015.