AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF GRANBURY, TEXAS, LEVYING TAXES FOR THE TAX YEAR 2016-2017; ENACTING PROVISIONS INCIDENT AND RELATING TO THE SUBJECT AND PURPOSE OF THIS ORDINANCE; PROVIDING A SEVERABILITY CLAUSE; REPEALING CONFLICTING ORDINANCES; AND PROVIDING AN EFFECTIVE DATE.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF GRANBURY, TEXAS:
SECTION 1.
The City of Granbury, Texas does hereby levy and adopt a tax rate for tax year 2016-2017 and for each year thereafter until otherwise ordained as follows:
-$0.187950 for the purposes of maintenance and operation
-$0.209634 for the payment of principal and interest on debt of this City
-$0.397584 Total Tax Rate
The above tax rate shall be assessed and collected on each One Hundred Dollars ($100.00) of assessed value of all taxable property, real, personal, and mixed, situated within the corporate limits of the City of Granbury on January 1, 2016 and not exempt from taxation by the Constitution and statues of the State of Texas.
SECTION 2.
THIS TAX RATE WILL RAISE MORE TAXES FOR MAINTENANCE AND OPERATIONS THAN LAST YEAR'S TAX RATE.
SECTION 3.
That the tax so levied and assessed shall be apportioned to the accounts and funds in the amount as set forth above and in the Annual Budget of the City adopted for the Fiscal Year commencing October 1, 2016.
SECTION 4.
Ad Valorem taxes levied by this Ordinance shall be due and payable on October 1, 2016, and shall become delinquent on the first day of February, 2017. Payment of such tax is due in one full installment. Taxes shall be payable at the Office of the Hood County Tax Collector. There shall be no discount for taxes paid prior to January 31, 2017.
SECTION 5.
If the tax is unpaid after January 31, 2017, such tax will become delinquent and penalty and interest will attach and accrue as provided by Texas Tax Code, Section 33.01.
SECTION 10.
This Ordinance shall become effective from and after its date of passage and publication.
Presented, passed and approved on the 6th day of September, 2016 at a regular meeting of the City Council of the City of Granbury, Texas.
This ordinance is on file in the Office of the City Secretary, 116 W Bridge St and can be seen in its entirety Monday through Friday from 8:00 AM to 5:00 PM.
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