HomeMy WebLinkAboutOrdinance - 2018-O0110 - FY 2018-19 Tax Rate - 09/13/2018First Reading
August 30, 2018
Item No. 1.4
ORDINANCE NO. 2018-00110
Second Reading
September 13, 2018
Item No. 7.3
AN ORDINANCE SETTING THE TAX RATE AND LEVYING A TAX UPON
ALL PROPERTY SUBJECT TO TAXATION WITHIN THE CITY OF LUBBOCK,
TEXAS, FOR THE YEAR 2018; APPORTIONING SAID LEVY AMONG THE
VARIOUS FUNDS AND ITEMS FOR WHICH REVENUE MUST BE RAISED;
FIXING THE TIMES IN WHICH SAID TAXES SHALL BE PAID AND ASSESSING
PENALTY AND INTEREST FOR NONPAYMENT OF SUCH TAXES WITHIN THE
TIME PROVIDED.
WHEREAS, after all notices have been given and hearings held as provided by
law, the City Council has determined the tax rate necessary to produce the revenue
necessary to operate the affairs of the City of Lubbock for the next fiscal year; NOW
THEREFORE:
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
SECTION 1. THAT there shall be levied and assessed upon all property subject to
taxation within the City of Lubbock, Texas, for the year 2018 the sum of $0.54802 per One
Hundred and No/100s Dollars ($100.00) valuation thereof and the same shall be applied to
the various funds in the following manner:
$0.13662 per $100 valuation to the Interest and Sinking Fund;
$0.38825 per $100 valuation to the General Fund; and
$0.02315 per $100 valuation to the Economic Development Fund.
SECTION 2. THAT all ad valorem taxes shall be paid before the first day of
February 2019, and taxes not paid by that time shall be increased by such penalty and
interest as is provided by Chapter 18 of the Code of Ordinances of the City of Lubbock.
THIS TAX RATE WILL RAISE MORE TAXES FOR
MAINTENANCE AND OPERATIONS THAN LAST YEAR'S TAX
RATE
THE TAX RATE WILL EFFECTIVELY BE RAISED BY 1.76
PERCENT AND WILL RAISE TAXES FOR MAINTENANCE AND
OPERATIONS ON A $100,000 HOME BY APPROXIMATELY $7.10.
(Based on the comparison of the Maintenance and Operations Tax Rate which is the total
of the General Fund rate and Economic Development Fund rate above, and the Effective
Maintenance and Operations Tax Rate adjusted for Sales Tax)
Tax Rate Ordinance 18-19
(8-20-18) page 1 or3
AND IT IS SO ORDERED
Passed by the City Council on first reading this 30th day of August , 2018.
VOTING FOR PASSAGE:
Mayor Daniel M. Pope
Mayor Pro Tern Jeff Griffith
Council Member Juan A. Chadis
Council Member Shelia Patterson Harris
Council Member Steve Massengale
Council Member Randy Christian
Council Member Latrelle Joy
Council members present but not voting:
Council members absent: NIA
NIA
VOTING AGAINST PASSAGE:
Passed by the City Council on second reading this 13th day of September____, 2018.
VOTING FOR PASSAGE:
Mayor Daniel M. Pope
Mayor Pro Tem Jeff Griffith
Council Member Juan A. Chadis
Council Member Shelia Patterson Harris
Council Member Steve Massengale
Council Member Randy Christian
Council Member Latrelle Joy
Tax Rate Ordinance 18-19
(8-20-18)
VOTING AGAINST PASSAGE:
Page 2 of 3
Council members present but not voting:
Council members absent: N/A
ATTEST:
Reb cca Garza, City Secret ry
APPROVED AS TO CONTENT:
N/A
DANIEL M. POPE, MAYOR
1 i .
D. 13ru Kosteerich, Chief Financlal�" O
APPROVED AS TO FORM:
Si s, Dep rney
Tax Rafe Ordinance 18-19
(8-20-I8) Page 3 of 3