Page 340 - FY 2021-22 ADOPTED BUDGET

SECTION III

There is hereby levied and ordered to be assessed and collected for the fiscal year
beginning October 1, 2021, and ending September 30, 2022, and for each fiscal year
thereafter until it be otherwise provided by and ordained on all taxable property, real,
personal and mixed, situated within the corporate limits of the City, and not exempt from
taxation by the Constitution of the State and valid State laws, an ad valorem tax rate of
$0.6175 for the general operations of the City on each One Hundred Dollars ($100.00)
assessed value of taxable property, and shall be apportioned and distributed as follows:

(a) For the purpose of defraying the current expenses of the
municipal government of the City (a General Fund), a tax of
$0.5810 of each One Hundred Dollars ($100.00) assessed
value of all taxable property within the City.

(b) For the purpose of creating a Debt Service Fund to pay the
interest and principal on all outstanding debts of the City, not
otherwise provided for, a tax of $0.0365 on each One Hundred
Dollars ($100.00) assessed value of all taxable property within
the City.

SECTION IV

All monies collected and hereby apportioned are set apart for the specific purposes indicated
herein and the funds shall be accounted for in such a manner as to readily show balances
at any time.

SECTION V

All ad valorem taxes shall become due and payable on October 1, 2021, and all ad valorem
taxes for the year shall become delinquent after January 31, 2022. There shall be no
discount for payment of taxes prior to said January 31, 2022. A delinquent tax shall incur
all penalty and interest authorized by Chapter 33 of the State Property Tax Code.

SECTION VI

Taxes are payable at the Office of the Tarrant County Tax Assessor/Collector by submitting
payment to Wendy Burgess, County Tax-Assessor-Collector. The County shall have
available all rights and remedies provided by law for the enforcement of the collection of
taxes levied under this Ordinance.

SECTION VII

The tax rolls, as presented to the City Council, together with any supplement thereto, be,
and the same are hereby approved.

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