HomeMy WebLinkAboutOrdinance - 2024-O0129 - Setting The Tax Rate, City Of Lubbock For 2024 - 09/10/2024First Reading
September 3, 2024
Item No. 1.4
Second Reading
September 10, 2024
Item No. 6.5
ORDINANCE NO. 2024-00129
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 2024; 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 2024 the sum of $0.470120 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:
$0.112664 per $100 valuation to the Interest and Sinking Fund; and
$0.357456 per $100 valuation to the General Fund
SECTION 2. THAT all ad valorem taxes shall be paid before the first day of
February 2025, 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 1.71 PERCENT
AND WILL RAISE TAXES FOR MAINTENANCE AND OPERATIONS ON A
$100,000 HOME BY APPROXIMATELY-$12.93.
AND IT IS SO ORDERED
Tax Levy 2024-25
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Passed by the City Council on first reading this 3rd day of September , 2024.
VOTING FOR PASSAGE: VOTING AGAINST PASSAGE:
Council Member Christy Martinez -Garcia Mayor Mark W. McBrayer
Council Member Gordon Harris Council Member David Glasheen
Council Member Brayden Rose
Council Member Dr. Jennifer Wilson
Council Member Tim Collins
Council members present but not
voting:
Council members absent:
NA
Passed by the City Council on second reading this 10th day of September , 2024.
VOTING FOR PASSAGE:
VOTING AGAINST PASSAGE:
Council Member Christy Martinez -Garcia Mayor Mark W. McBrayer
Council Member Gordon Harris Council Member David Glasheen
Tax Levy 2024-25
8/21/24)
Page 2 of 3
Council members present but not
voting:
Council members absent:
ATT ST:
46
Courtney Paz
City Secretary
APPROVED AS TO CONTENT:
Cheryl Brock
Interim Chief Financial Officer
APPROVED AS TO FORM:
Amy . ms
De t ity Attorney
NA
NA
M RK W. MCBRAYER, MAYOR
Tax Levy 2024-25
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