HomeMy WebLinkAboutOrdinances (O-24-2294)-09/17/2024ORDINANCE 0-24-2294
LEVYING TAXES FOR THE OPERATION OF THE MUNICIPAL
GOVERNMENT OF THE CITY OF COLLEYVILLE, TEXAS, FOR THE
FISCAL YEAR 2025; ESTABLISHING THE AD VALOREM TAX RATE
OF $0.276204 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, 2024
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 3.33 PERCENT
AND WILL RAISE TAXES FOR MAINTENANCE AND OPERATIONS
ON A $100,000 HOME BY APPROXIMATELY $8.77.
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, 2024, and ending
September 30, 2025; 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, after careful consideration, has determined
that an increase in the tax rate is necessary to meet the
essential needs of the community, including funding for
critical services and infrastructure, while ensuring that the
increase is the minimal amount required to support these
priorities.
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
Ordinance 0-24-2294
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legally required Interest and Sinking Fund for certain
outstanding bond indebtedness during the 2025 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
$0.276204 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 $0.260172 is levied.
B. For the Interest and Sinking Fund, a tax rate of
$0.016032 is levied.
Sec. 2. THAT taxes levied by this ordinance shall be due and
payable on the first day of October 2024, and shall become
delinquent on the first day of February 2025, 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
2025. 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 4th day of
September 2024.
The second reading and public hearing being conducted on the 1711 day of
September 2024.
APPROVED BY A VOTE OF 7 AYES, 0 NAYS, ON THIS THE 17TH DAY OF
AUGUST 2024.
Mayor Bobby Lindamood Aye Mark Alphonso, Place 2 Aye
Mayor Pro Tern Brandi Elder Aye Ben Graves, Place 4 Aye
Deputy Mayor Pro Tem Scotty Richardson Aye Tim Raine, Place 6 Aye
Kimberly Holt Gunderson, Place 5 Aye
ATTEST:
Christine Loven, TRMC
City Secretary
APPROVED AS TO FORM:
Whit Wyatt
City Attorney
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CITY OF COLLEYVILLE
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