HomeMy WebLinkAboutOrdinance - 2005-O0107 - Ordinance Setting Tax Rate; Levying Tax Upon All Property Subject To Taxation - 08/25/2005tReading
ugust 25, 2005
tem46
ORDINANCE NO. 2005=00107
Second Reading
September 8, 2005
Item43
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 2005; 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 I. THAT there shall be levied and assessed upon all property subject
to taxation within the City of Lubbock, Texas, for the year 2005 the sum of$0.4472 per
One Hundred and No/IOOs Dollars ($100.00) valuation thereof and the same shall be
applied to the various funds in the following manner:
$0.06094 per $100 valuation to the Interest and Sinking Funds.
$0.35626 per $1 00 valuation to the General Fund; and
$0.03000 per $100 valuation to the Economic Development Fund.
This tax rate will raise more taxes for maintenance and operations
than last year's tax rate.
The tax rate will raise taxes for maintenance and operations on a
$100,000 home by approximately MINUS $27.42.*
*This language is required by Section 26.05 of the Tax Code even if the actual dollar
amount will be a decrease, which is the case for the City of Lubbock.
SECTION 2. THAT all ad valorem taxes shall be paid before the first day of
February 2006, and taxes not paid by that time shall be increased by such penalty and
interest as is provided by Chapter 26 of the Code of Ordinances of the City of Lubbock.
AND IT IS SO ORDERED
Passed by the City Council on first reading this 25th day of August ,2005.
Tax Levy Page 1 of3
VOTING FOR PASSAGE: VOTING AGAINST PASSAGE:
Gary Boren Linda DeLeon
Tom Martin Floyd Price
Mayor Hare McDougal Phyllis Jones
Jill Gilbreath
Council members present but not voting:
Council members absent:
****
Passed by the City Council on second reading this 8th day of Septeaber '2005.
VOTING FOR PASSAGE: VOTING AGAINST PASSAGE:
Gary Boren Linda DeLeon
Toa Martin
Mayor Marc McDougal
Jim Gilbreath
Phyllis Jones
Floyd Price
Council members present but not voting:
Council members absent:
****
Tax Levy Page 2 of3
ATTEST:
~---~c RekCCaGMZa, City Secretary
APPROVED AS TO CONTENT:
Don Vand1 er
Attorney of Counsel
DD/OrdfraxRateOrdinWJce 1Y OS-06
August 18, 2005
Tax Levy
AL,MAYOR
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