HomeMy WebLinkAboutResolution - 062465B - Tentative Establishment Of City Tax Rate - 06/24/1965CITY OF LUBBOCK
RESOLUTION
WHEREAS,the City Council is aware of the concern of citizens regarding
taxes and it is the desire of the Council to assure all of the citizens of
Lubbock that it is not the intent nor design of the Council to increase the
overall City tax revenue through re-evaluation procedures.
NOW THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
that the City Council here and now tentatively established the City tax rate
for 1965-66 at $1.15 per $100 assessed valuation subject to the following
variables•
FIRST, that the present total assessed value of taxable real and
personal property within the City of Lubbock will remain substan-
tially the same after a review by the Board of Equalization; (for
each $5,000,000,000 reduction in assessed valuation will necessitate
a 1G rate increase)
SECOND, that by mutual agreement with the Board of City Development -
Chamber of Commerce through budget procedure, the tax contribution
for its operational purposes may be limited to two hundred thousand
dollars in lieu of the sum for which the Charter of the City of
Lubbock provides; and
THIRD, that the percentage of collections remain the same as in the
past
Passed on June 24, 1965