HomeMy WebLinkAboutOrdinance - 2017-O0112 - Setting A Tax Rate Upon All Property Subject To Taxation - 09/07/2017II
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First Reading
September 7, 2017
Item No. 2.4
Second Reading
September 14, 2017
Item No. 7.12
ORDINANCE NO. 2017-00112
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 2017; APPORTIONING SAID LEVY AMONG THE
VARIOUS FUNDS AND rTEMS FOR WHICH REVENUE MUST BE RAlSED:
FIXING THE TIMES lN 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 tor the next fiscal year: NOW
THEREFORE:
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
SECTION J . THAT there shall be levied and assessed upon all property subject to
taxation within the City of Lubbock, Texas, for the year 2017 the sum of $0.53802 per One
Hundred and No/1 OOs Dollars ($1 00.00) valuation thereof and the same shall be applied to
the various funds in the following manner:
$0.12662 per $100 valuation to the Interest and Sinking Fund;
$0.38825 per $100 valuation to the General Fund; and
$0.02315 per $1 00 valuation to the Economic Development Fund.
SECTION 2. THAT all ad valorem taxes shall be paid before the first day of
February 2018, 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 5.19
PERCENT AND WILL RAISE TAXES FOR MAINTENANCE AND
OPERATIONS ON A $100,000 HOME BY APPROXIMATELY 10.00.
(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)
Tu' Rule: On.hmmcc 2017-18
(9-06-17) Page I nf 3
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AND IT IS SO ORDERED
Passed by the City Council on first reading this ___]fu___ day of September . 2017.
VOTING FOR PASSAGE: VOTING AGAINST PASSAGE:
Mayor Daniel M. Pope
Mayor Pro Tern Latrelle Joy
Council Member Juan A. Chadis
Council Member Shelia Patterson Harris
Council Member Jeff Griffith
Council Member Steve Massengale
Council Member Karen Gibson
Council members present but not voting: ___,_N=-/_,_,A"---------------
Council members absent: N/ A -~~-------------------
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Passed by the City Council on second reading this 14th day of September '2017.
VOTING FOR PASSAGE:
Mayor Daniel M. Pope
Mayor Pro Tern Latrelle Joy
Council Member Juan A. Chadis
Council Member Shelia Patterson Harris
Council Member Jeff Griffith
Council Membe_~ ~teve Mass~n-~~!e __
Council Member Karen Gibson
Tux Rate Ordtnance 20 17-18
(9·06-17)
VOTING AGAINST PASSAGE:
Page 2 ot 3
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Council members present but not voting:
Council members absent: N/A ~~~-------------------------------------
ATTEST:
APPROVED AS TO CONTENT:
ial Officer
APPROVED AS TO FORM:
y Attorney
Tax Rate Ordinance 2017-ll!
(9-06-17)
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DANIEL M. POPE, MAYOR
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