Page 104 - CityofForestHillFY26Budget
P. 104

CITY OF FOREST HILL


                                               ORDINANCE NO. 2025-29

               AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF FOREST HILL, TEXAS,
               ADOPTING  AND LEVYING AD VALOREM  TAXES FOR THE YEAR 2025 (FISCAL
               YEAR 2025-2026) AT A RATE OF $0.700466 PER ONE HUNDRED DOLLARS ($100)
               ASSESSED VALUATION ON ALL TAXABLE PROPERTY WITHIN THE CORPORA TE
               LIMITS OF THE CITY OF FOREST HILL AS OF JANUARY 1, 2025, TO PROVIDE
               REVENUE FOR THE PAYMENT OF CURRENT EXPENSES; PROVIDING FOR AN
               INTEREST AND SINKING FUND FOR ALL OUTSTANDING DEBT OF THE CITY OF
               FOREST HILL; PROVIDING FOR DUE AND DELINQUENT DATES TOGETHER WITH
               PENALTIES AND INTEREST; PROVIDING A SEVERABILITY CLAUSE; PROVIDING
               A REPEALING CLAUSE; AND PROVIDING AN EFFECTIVE DATE.


               WHEREAS, following public notices duly posted and published in all things as required
               by law, public hearings were held by and before the City Council of the City of Forest Hill,
               the subject of which was the proposed tax rate for the City of Forest Hill for Fiscal Year
               2024-2025, submitted by the City Manager in accordance with provisions of the City
               Charter and state statutes; and

               WHEREAS, the City Council, upon full consideration of the matter, is of the opinion that the
               tax rate hereinafter set forth is proper and should be approved and adopted.

               NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
               FOREST HILL, TEXAS, THAT:


               SECTION 1. There is hereby approved, adopted, and levied for the tax year 2025 on all
               taxable property, real, personal, and mixed, situated within the corporate limits of the City
               of Forest Hill, Texas, and not exempt by the Constitution of the State and valid State laws,
               a tax of $0.700466 on each One Hundred Dollars ($100) assessed valuation of taxable
               property, which consists of two components each one of which is separately approved by
               the Council as follows:


                   (a) $0.00 per One Hundred Dollars ($100) of taxable value, the rate that, if applied to
                      the total taxable value, will impose the total amount published  under Section
                      26.04(e)(3)(C) of the Texas Property Tax Code (Tax Code), less any amount of
                      additional sales and use tax revenue that will be used to pay debt service; and

                   (b) $0.700466 per One Hundred Dollars ($100) taxable value, the rate that, if applied
                      to the total taxable value, will impose  the amount  of taxes needed to fund
                      maintenance and operation expenditures of the City for the coming year.









               Ordinance 2025-29
               Adopting the Ad Valorem Tax Rate
                                                                                                Page 98 of 102
   99   100   101   102   103   104   105   106   107   108