There is hereby authorized the levy of an annual ad valorem
property tax, in accordance with the state property tax laws, in an
amount not to exceed one dollar and fifty cents ($1.50) on each one
hundred dollars ($100.00) assessed valuation. All monies received
from this levy shall be spent in accordance with the annual tax levy
ordinance and the annual city budget upon which the levy is based.
Editor’s note–The ad valorem property
tax was first authorized in the city for the tax year 1980 pursuant
to a public hearing held on January 15, 1980, and a tax levy ordinance
adopted March 4, 1980. The authorized levy was increased from $0.25
to $1.50 with the conversion from a type B general-law municipality
to a type A general-law municipality pursuant to Ordinance 42, adopted
July 13, 1982.
(Ordinance adopting 1982 Code; 1982
Code, ch. 1, sec. 23(A))
The city hereby elects to participate in the Polk County Tax
Appraisal District. The appraisal district shall be authorized to
perform all appraisal and assessment functions required under the
state property tax code.
(Ordinance adopting 1982 Code; Ordinance 111 adopted 9/20/88; 1982 Code, ch. 1, sec. 23(B))
In addition to other exemptions provided for in the state property
tax code, the city hereby exempts five thousand dollars ($5,000.00)
of the appraised value of the residence homestead, and ten thousand
dollars ($10,000.00) for any individual who is disabled or who is
sixty-five (65) years of age or older, as provided for in section
11.13 of the state property tax code. Applications for exemption shall
be filed in accordance with sections 11.43 and 11.431 of the state
property tax code.
(Ordinance adopting 1982 Code; Ordinance 111 adopted 9/20/88; 1982 Code, ch. 1, sec. 23(C))
The city shall tax and collect ad valorem taxes on the appraised
value of business inventory, including tangible personal property
consisting of goods, wares, merchandise, and other tangible personal
property and wares, other than oil, natural gas and other petroleum
products, regardless of the period of time they are located within
the state and/or within the city. The city hereby elects to tax for
the tax year 1991 and all subsequent years the exempt property described
in article VIII, section 1-j, Texas Constitution, and section 11.251,
Property Tax Code, V.T.C.A.
(Ordinance adopting 1982 Code; Ordinance 130 adopted 2/6/90; 1982 Code, ch. 1, sec. 23(D))
