HomeMy WebLinkAbout0003_80-22 1980AN 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
TAXES UNDER CERTAIN CONDITIONS AND
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 residence
homesteads of all persons sixty-five (65) years of age or older from ad valorem
taxes under certain conditions, provided that when the exemption is converted
from assessed value to market value, the same reduction is provided; and
WHEREAS, the City Council of the City of Georgetown, Texas, did pass and
approve an ordinance providing for an exemption of not less than three thousand
dollars ($3,000.00) of the assessed value of residence homesteads of persons
who have attained the age of sixty-five (65) or older from ad valorem taxes on
the 11th day of June, 1973;
Now, THEREFORE, BE IT ORDAINED by the City Council of the City of Georgetown,
Texas;
Section 1. From and after January 1, 1980, five thousand dollars ($5.000.00)
of the market value of residence homesteads as defined by law of persons who have
attained the age of sixty-five (65) years on or before January 1st of the year
for which the exemption is claimed shall be exempt from City ad valorem taxes;
provided, however, that where the ad valorem tax has heretofore been pledged for
the payment of any debt, the taxing officers of the City shall have the authority
to continue to levy and collect the tax against the homestead property at the
same rate as the tax so pledged until the debt is discharged, if the cessation of
the levy would impair the obligation of the contract by which the debt was created.
Section 2. For the preservation of order and general welfare, an emergency
Is hereby declared and this ordinance, shall take effect and be in force from
and after its passage.
READ, PASSED AND APPROVED by the City Council of the City of Georgetown,
Texas, on first reading as an emergency this 14th day of October, 1980.
� j C_ OkLllp. I-./
Joh C. Doerfler
Mayor
ATTEST -
Jim Colbert
City Secretary
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