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AN ORDINANCE PROVIDING THAT NOT LESS
THAN FIVE THOUSAND DOLLARS OF MARKET
VALUE OF RESIDENCE HOMESTESDS OF ALL
PERSONS SIXTY-FIVE YEARS OF AGE OR
OLDER BE EXEMPTED FROM AD VALOREM
TUXES UNDER CERTAIN COHD:TIONS AMD
DECLARING AN EMERGENCY.
WHEREAS, Article VIII, Section 1-b of the Texas Constitution provides that
from and after January 1, 1973, political subdivisions of the State may exempt
not less than three thousand dollars ($3,000.00) of the market value of resi'l-rce
homesteads of all persons sixty-five (65) years of age or older from ad valor_
taxes under certain conditions, provided that when .he exemption Is con -.c--.%6
from assessed value to market value, the same reduction is provided; n—'
WHEREAS, the City Council of the City of Georgetown, Texas, did pr,: -'ii('
approve :=,n ordinance providing for an exemption of not less than three thovsa.u:
dcliars ($3,000.00) of the assessed value of residence homesteads cf Fersor-s
Brio have attained the age of sixty-five (65) or older from ad valorarr. t,,.es .,.r
the 11th day of June, 1973;
Now, THEREFORE, BE IT ORDAINED by the City Council of the Citi of '�s•��•�c¢.,. n
Texas;
Section 1. From and after January 1, 1980, five thous3n4
-)f tli a market va 7 ue of res i deuce homesteads as def i ned by l aw a* y'
a:ti'-ned the age of sixty-five (651 years on or before January 1sd of
u:r which the exemption is claimed sha l 1 be exempt f rom C i t;! -,d, N•
provided, however, that where the ad valorem tax has her•cto:•.rc
the Payment of any dzbt,. the taxing officers of the City st.al" hast, Lac :• r :t
to continue to levy and collect the tax against the homebtead a:ep�r;� •:. -,.�
same rate as the tax so pledged until the debt is discnar0ed, c
t tie levy would i mva i r the ooi i :?atTon of the contract by wh : -. - tns
Section 2. For the preservation of order and general asif-r.:
heriby declared and this ordinance, shall take effect are;, be 'n f,3..,.
?iru aft— its passage.
READ, PAS -SED ANC APPROVED by the City Council of th;; Cit, r or
+-•ras cry first reading as an emergency this 14th day of OctcLarl. 4981
_1�14L (I. LAIL__
Jon C. Doerfler
Mayor
ATTEST:
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i t , cec..retary