HomeMy WebLinkAboutOrdinance - 2016-O0136 - Setting Tax Rate - 09/08/2016First Reading
September 1, 2016
Item No. 2.4
ORDINANCE NO. 2016-00136
Second Reading
September 8, 2016
Item No. 6.3
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 2016; 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, the maintenance and operations tax rate by State statute is the
combined General Fund rate and Economic Development rate below, a total of $0.4014
for Tax Year 2016, which would decrease the maintenance and operations tax on a
$100,000 home by $13.95 compared to Tax Year 2015; and
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 2016 the sum of $0.53802 per One
Hundred and Not l 00s 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;
$0.37825 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 2017, 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 0.60
PERCENT AND WILL RAISE TAXES FOR MAINTENANCE AND
OPERATIONS ON A $100,000 HOME BY APPROXIMATELY $2.38.
Tax Rate Ordinance 2016-17 (8-25-16) Pagel of 3
(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)
AND IT IS SO ORDERED
Passed by the City Council on first reading this 1 st day of September , 2016.
VOTING FOR PASSAGE: VOTING AGAINST PASSAGE:
Mayor Daniel M. Pope
Mayor Pro Tem 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
Passed by the City Council on second reading this 8th day of September , 2016.
VOTING FOR PASSAGE:
Mayor Daniel M. Pope
Mayor Pro Tem Latrelle Joy
Council Member Juan A. Chadis
Council Member Shelia Patterson Harris
VOTING AGAINST PASSAGE:
rax Rate Ordinance 2016-17 (8-25-16) Page 2 of
Council Member Jeff Griffith
Council Member Steve Massengale
Council Member Karen Gibson
Council members present but not voting:
Council members absent: N/A
ATTEST:
Reb ca Garza, City Sec t
APPROVED AS TO CONTENT:
Cheryl Br &k, Executive Director of Budget
APPROVED AS TO FORM:
ZYL ms, Deput Attorney
N/A
DANIEL M. POPE, MAYOR
Tax Rate Ordinance 2016-17 (8-25-16) Page 3 of 3