Page 370 - CityofKellerFY25Budget

a. For the General Fund Maintenance and
Operations levied on the $100.00 of taxable
valuation: 0.247620
b. For the Interest and Sinking Fund levied on
the $100.00 of taxable valuation:
0.043500
Total tax rate $ 0.291120

Section 3: THAT, this tax rate will raise more taxes for maintenance and
operations than last year' s rate.

Section 4: THAT, there shall be exempted from the valuation of all residential
homesteads for which proper application shall have been made, an
amount equal to the greater of twelve percent (20%) of the appraised
value of such residential homestead, or Five Thousand Dollars
5,000.00). The exemption shall be granted to any such residential
homestead and the improvements qualifying for same as provided by
law.

Section 5: THAT, there shall be exempted the sum of Forty Thousand Dollars
40,000.00) of the assessed value of residence homesteads of
residents of the City of Keller, Texas, who are sixty-five (65) years of age
or older, from all ad valorem taxes thereafter levied by the City of Keller,
Texas.

Section 6: THAT, there shall be exempted the sum of Ten Thousand Dollars
10,000.00) of the assessed value of residence homesteads of
residents of the City of Keller, Texas, meeting the definition of a
disabled” individual, as defined by the Texas Tax Code.

Section 7: THAT, there shall be exempted from valuation any other exemption or
exemptions, which may be authorized by the Texas Tax Code for which
proper application by the Taxpayer, shall have been made.

Section 8: THAT, Ordinance No. 1209, approved by the City Council of the City of
Keller, Texas, on August 3, 2004, provided for the establishment of an
ad valorem tax limitation on residential homesteads of disabled and
persons sixty-five ( 65) years of age or older and their spouses, as
authorized and defined by the Texas Constitution, Article VIII, Taxation
and Revenue, Section 1-b, Residence Homestead Exemption, and the
Texas Tax Code, Chapter 11, Taxable Property and Exemptions,
Section 11.261, Limitation of County, Municipal, or Junior College
District Tax on Homesteads of Disabled and Elderly.

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