HomeMy WebLinkAboutOrdinance No. 2013-2026
CITY OF THE COLONY, TEXAS
ORDINANCE NO. 2013-2026
ADOPT TAX RATE FOR FISCAL YEAR 2013-2014
AN ORDINANCE OF THE CITY OF THE COLONY, TEXAS, LEYYING
THE AD VALOREM TAXES FOR THE FISCAL YEAR 2014 AT A RATE
OF $.6775 PER ONE HUNDRED DOLLARS ($100) ASSESSED
VALUATION OF ALL TAXABLE PROPERTY WITHIN THE
CORPORATE LIMITS OF THE CITY AS OF JANUARY 1, 2014; TO
PROVIDE REVENUES FOR THE PAYMENT OF CURRENT EXPENSES
AND TO PROVIDE AN INTEREST AND SINKING FUND ON ALL
OUTSTANDING DEBTS OF THE CITY; PROVIDING FOR DUE AND
DELINQUENT DATES TOGETHER WITH PENALTIES AND
INTEREST; AND DECLARING AN EFFECTIVE DATE.
BE IT SO ORDAINED BY THE CITY COUNCIL OF THE CITY OF THE COLONY,
TEXAS:
SECTION 1: That there be and is hereby levied for the fiscal year 2014, on all taxable
property, real, personal and mixed, situated within the limits of the city of The Colony, Texas, and
not exempt by the Constitution of the State and valid State laws, a tax of $.6775 on each One
Hundred Dollars ($100) assessed value of taxable property, and shall be apportioned and
distributed as follows:
(a) For the purpose of defraying the current expenses of municipal government of the
City, a tax of $.459022 on each One Hundred Dollars (S100) assessed value of all
taxable property.
(b) For the purpose of creating a sinking fiend to pay interest and principal on all
outstanding bonds of the City, not otherwise provided for, a tax of $.218478 on
each One Hundred Dollars (S 100) assessed value of all taxable property, within the
City, which shall be applied to the payment of such interest and maturities of all
outstanding bonds.
(c) 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 6.23 PERCENT AND
WILL RAISE TAXES FOR MAINTENANCE AND OPERATIONS ON A
$100,000 HOME BY APPROXIMATELY $4.11.
SECTION 2: That all ad valorem taxes shall become due and payable on October 1, 2013
and all ad valorem taxes for the year shall become delinquent after January 31, 2014. There shall
be no discount for payment of taxes prior to said January 31, 2014. If any person fails to pay the
ad valorem taxes on or before the 31st day of January 2014, the following penalties shall be
payable thereon, to-wit:
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During the month of February, seven percent (7%); during the month of March, nine
percent (9%); during the month of April, eleven percent (11%); during the month of May,
thirteen percent (13%); during the month of June, fifteen percent (15%); and on or after the
I" day of July, eighteen percent (18%).
SECTION 3: Taxes are payable at the Denton County office of the tax collector who on
behalf of The Colony collects ad valorem taxes for The Colony. The City shall have available all
rights and remedies provided by law for enforcement of the collection of taxes levied under this
ordinance.
SECTION 4: That the tax rolls, as presented to the City Council, together with any
supplement thereto, be, and the same are hereby approved.
SECTION 5: The fact that it is necessary that this ordinance be enacted in order to
authorize the collection of ad valorem taxes for the fiscal year 2014, this ordinance shall take
effect from and after its passage as the law in such cases provides.
DULY PASSED AND APPROVED, this the 17th day of September, 2013.
Joe McCourry, Mayor
City of The Colony, Texas d`
ATTEST:
Christie Wilson, TRMC, City Secretary
F V
APPROVED AS TO FORM:
w ,
City AttO-ney~
'City of The C)lony, Texas
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