Page 422 - City of Westlake FY20 Budget
P. 422

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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