HomeMy WebLinkAboutOrdinances (O-23-2258)-09/19/2023ORDINANCE 0-23-2258
LEVYING TAXES FOR THE OPERATION OF THE MUNICIPAL
GOVERNMENT OF THE CITY OF COLLEYVILLE, TEXAS, FOR THE
FISCAL YEAR 2024; ESTABLISHING THE AD VALOREM TAX RATE OF
$0.260991 PER ONE HUNDRED DOLLARS VALUATION; PROVIDING
FOR APPORTIONMENT OF TAXES FOR INTEREST AND SINKING FUND
FOR CERTAIN BOND INDEBTEDNESS AND FOR GENERAL OPERATING
NEEDS, PROVIDING PENALTIES AND INTEREST FOR THE
DELINQUENT TAXES, AND TO BECOME EFFECTIVE ON OCTOBER 1,
2023
WHEREAS, a budget has been adopted by the City Council of the City of
Colleyville, Texas, covering the proposed expenditures of the
municipal government of the City of Colleyville for the fiscal
year beginning October 1, 2023 and ending September 30,
2024;and
WHEREAS, said budget reflects the needs for revenue to meet the
expenses proposed therein; and
WHEREAS, the City is required to accumulate an Interest and Sinking Fund
for certain outstanding bond indebtedness; and
WHEREAS, the City Council desires to lower the current tax rate to the
effective tax rate, to provide relief to property owners from
increasing property values.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE
CITY OF COLLEYVILLE, TEXAS:
Sec. 1. THAT there is hereby levied an ad valorem tax that shall be
collected for the use and support of the municipal government
of the City of Colleyville. It shall provide the legally required
Interest and Sinking Fund for certain outstanding bond
indebtedness during the 2024 fiscal year. Such tax shall be
levied upon all property, real, personal, or mixed within the
corporate limits of Colleyville, Texas, which is subject to
taxation. The rate of tax shall be $0.260991 on each $100.00
property assessment. Said tax levied for and apportioned to
the following specific purposes:
A. For the General Fund, a tax rate of $0.251399 is levied.
B. For the Interest and Sinking Fund, a tax rate of $.009592 is
levied.
Ordinance 0-23-2258
Page 2 of 2
Sec. 2. THAT taxes levied by this ordinance shall be due and payable
on the first day of October 2023, and shall become delinquent
on the first day of February 2024, if unpaid. Upon taxes
becoming delinquent, interest and penalty will be added as
required in Section 33.01 of the Texas Property Tax Code, and
shall commence on the first day of February 2024. The City of
Colleyville is hereby authorized to adopt any and all legal
remedies provided by the Texas Property Tax Code for the
purpose of collecting delinquent taxes.
AND IT IS SO ORDERED.
The first reading and public hearing being conducted on the 61h day of
September 2023.
The second reading and public hearing being conducted on the 19th day of
September 2023.
APPROVED BY A VOTE OF 6 AYES, 0 NAYS, ON THIS THE 19TH DAY OF
SEPTEMBER 2023.
Mayor Bobby Lindamood Absent Mayor Pro Tem Callie Rigney Aye
Brand! Elder, Place 1 Aye George Bond, Place 2 Aye
Scotty Richardson, Place 3 Aye Ben Graves, Place 4 Aye
Chuck Kelley, Place 5 Aye
ATTEST:
Christine Loven, TRMC
City Secretary
APPROVED AS TO FORM:
4WhittL.yatt
City Attorney
CITY OF COLLEYVILLE
Callie Rigney
Mayor Pro Tern