HomeMy WebLinkAboutOrdinance - 2020-O0124 - Setting the City of Lubbock Property Tax Rate for 2020First Reading
September 2, 2020
Item No. 4
ORDINANCE NO. 2020-00124
Second Reading
September 8, 2020
Item No. 8.4
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 2020; 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 2020 the sum of $0.541573 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:
$0.120433 per $100 valuation to the Interest and Sinking Fund;
$0.398672 per $100 valuation to the General Fund; and
$0.022468 per $100 valuation to the Economic Development Fund.
SECTION 2. THAT all ad valorem taxes shall be paid before the first day of
February 2021, 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 2.85
PERCENT AND WILL RAISE TAXES FOR MAINTENANCE AND
OPERATIONS ON A $100,000 HOME BY APPROXIMATELY-$5.10.
'I ax Levy 2020-21
(8-10-20) Page I or
AND IT IS SO ORDERED
Passed by the City Council on first reading this _ 2nd day of September , 2020.
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:
VOTING AGAINST PASSAGE:
N/A
N/A
Passed by the City Council on second reading this 8th day of September , 2020.
VOTING FOR PASSAGE: VOTING AGAINST PASSAGE:
Mayor Daniel M. Pope
Mayor Pro Tem Jeff Griffith
Council Member Juan A. Chadis
Council Member Shelia Patterson Harris
Tax Levy 2020-21
(8-10-20) Page 2 of 3
Council Member Steve Massengale
Council Member Randy Christian
Council Member Latrelle Joy
Council members present but not
voting: N:'A
Council members absent: NIA
DAN4MMM.POAYOR
A E T:
14
Rebecca Garza
City Secretary
APPROVED AS TO CONTENT:
l��lu K stelich
Chief Financial Officer
APPROVED AS TO FORM:
A
Deputy C y Attorney
ecdocs.'I'ax Rate Ordinance 2020-21 DBK Final
Tax Levy 2020-21
(8-10-20) Page 3 of 3