Page 263 - Grapevine Budget FY21

ORDINANCE NO. 2020-042

AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF
GRAPEVINE, TEXAS, SETTING THE ANNUAL TAX RATE
FOR TAX YEAR 2020 LEVYING TAXES TO BE ASSESSED
ON ALL TAXABLE PROPERTY WITHIN THE LIMITS OF THE
CITY OF GRAPEVINE, TEXAS; PROVIDING PENALTIES
AND INTEREST FOR THE DELINQUENT TAXES;
DECLARING AN EMERGENCY AND PROVIDING AN
EFFECTIVE DATE

WHEREAS, THE City Council of Grapevine, Texas has approved an operating
budget for the fiscal year 2020- 2021 ( FY 2021), in compliance with appropriate state laws
and the Charter of the City of Grapevine; and,

WHEREAS, a public hearing was held on the FY 2021 budget and all interested
parties were given an opportunity to be heard for or against any item contained therein;
and,

WHEREAS, public hearings were not required regarding the 2020 proposed ad
valorem tax rate since the City's proposed tax rate is less than both the No New Revenue
Rate and the Voter Approval rate; and,

WHEREAS, an ad valorem tax rate of $ 0. 282601 per $ 100 valuation has been
considered for tax year 2020.

NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
GRAPEVINE, TEXAS:

Section 1. That a tax rate is hereby levied upon all taxable property in the City of
Grapevine, Texas for tax year 2020 at a rate of twenty-eight twenty-six and one hundreds
cents ($ 0. 282601) per one hundred dollars ($ 100.00) valuation. THIS TAX RATE WILL
RAISE MORE TAXES FOR MAINTENANCE AND OPERATIONS THAN LAST YEAR'S
TAX RATE. THE TAX RATE WILL EFFECTIVELY BE RAISED BY 3. 28 PERCENT AND
WILL RAISE TAXES FOR MAINTENANCE AND OPERATIONS ON A $100, 000 HOME
BY APPROXIMATELY $ 1. 90.

Section 2. That there shall be and there is hereby levied the following taxes on each
one hundred dollars ($ 100. 00) valuation on all taxable property within the City of
Grapevine, Texas, to be assessed and collected by the Tax Assessor/Collector and
collected for tax year 2020, and said taxes are to be assessed and collected for the
purposes and in the amounts hereinafter stipulated, to-wit:

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