Page 422 - City of Westlake FY20 Budget

Section12 Appendix
Ordinance to Adopt Property Tax Rate

NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF
WESTLAKE, TEXAS:

SECTION 1: That all matters stated in the findings hereinabove are found to be true and correct
and are incorporated herein by reference as if copied in their entirely.

SECTION 2: That the Town Council of the Town of Westlake, Texas shall hereby levy the
following taxes on each One Hundred Dollars ($100.00) of taxable valuation on all taxable property
within the Town limits of the Town of Westlake, Texas to be assessed and collected by the Tax Assessor/
Collector for the tax year 2019 ( Fiscal year 2019-2020) for the purposes stipulated below, to-wit:

(a) $ 0.11453 For General Fund Maintenance and Operations ( M& O)

(b) $ 0.04565 For Interest and Sinking Fund ( debt service)

SECTION 3: Exemptions: That the Town Council authorizes the following exemptions and
limitations:

(a) Homestead exemption - That it is the intent of the Town Council of the Town of Westlake to
adopt the highest possible homestead exemption, which would be a homestead exemption in the amount
of twenty percent (20%) of the value of the homestead, and in any event, the exemption shall be at least a
minimum of Five Thousand dollars ($5,000). For purposes of this section "residential homestead" is
defined as a structure (including a mobile home) or a separately secured and occupied portion of a
structure (together with land, not to exceed ten (10) acres, and improvements used in the residential
occupancy of the structure and the land and improvements have identical ownership) that (1) is owned by
one or more individuals, either directly or through a beneficial interest is a qualifying trust; (2) is designed
or adapted for a human residence; (3) is used as a residence; and (4) is occupied as his or her principal
residence by an owner or, for property owned through a beneficial interest in a qualifying trust, by a
trustee of the trust who qualifies for the exemption.

(b) Over 65 or Disabled exemption - That an exemption for a resident over 65 or disabled,
pursuant to section 11. 13(b) of the Texas Tax Code shall be authorized in the amount of $10,000. A
resident is eligible for an exemption under this section if the resident is over 65 or disabled, but the
resident shall not be entitled to two exemptions under this section, as set out in section 11.13(b) of the
Texas Tax Code.

(c)The Town of Westlake previously adopted an ad valorem tax limitation in section 86- 2 of the
Town Code, for elderly and disabled citizens according to Article VIII, Section 1- b of the Texas
Constitution and Texas Tax Code §11.261, which provides " The county, municipality, or junior college
district may not increase the total annual amount of ad valorem taxes the county, municipality, or junior
college district imposes on the residence homestead of a disabled individual or an individual 65 years of
age or older above the amount of the taxes the county, municipality, or junior college district imposed on
the residence homestead in the first tax year, other than a tax year preceding the tax year in which the
county, municipality, or junior college district established the limitation described by Subsection (a), in
which the individual qualified that residence homestead for the exemption provided by Section 11.13(c)
for a disabled individual or an individual 65 years of age or older." This provision, commonly referred to
as a tax freeze" means that residents who are already eligible for the provisions of that section will not
have any increase in their taxes from the time that they became eligible, as citizens of Westlake, for that
section.

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