HomeMy WebLinkAboutResolution No. 87-03 CITY OF THE COLONY
RESOLUTION NO. '~uTA/~_~
WHEREAS, on January 1, 1986, the City of The Colony (City) and The
Colony Municipal Utility District (the District) were separate and distinct
political subdivisions; and
WHEREAS, the Denton County Appraisal District prepared separate tax
appraisal roils for 1986 for both the City and the District; and
WHEREAS, International Business Machines Corporation (IBM) is the
owner of certain property located in the City and certain property located in the
District; and
WHEREAS, IBM requested and received for 1986 an agricultural ex-
emption pursuant to Section 23.51 of the Property Tax Code relative to its
property located in the District; and
WHEREAS, IBM's property for 1986 was valued at its fair market value
for the City's tax roll on its property located in the City; and
WHEREAS, the District was dissolved and consolidated into the City
pursuant to Tex. Rev. Civ. Stat. Ann. Art. 1182c-5 pursuant to an agreement and
a court judgment entered on July 7, 1986 with the effective date of
consolidation being October 1, 1986; and
WHEREAS, IBM is the only taxpayer claiming agricultural value as to the
District and market value as to the City; and
WHEREAS, the City subsequent to October 1, 1986 issued tax statements
to IBM, copies of which statements are attached, which tax statements do not
take into account the two (2) assessed values on the same property; and
WHEREAS, IBM has returned the tax statements and requested the City
to reissue tax statements that would reflect the two (2) values; and
WHEREAS, the City has concluded that the request of IBM should be
granted and that pursuant to Section 26.13 of the Property Tax Code, the City
can elect to issue new tax statements to IBM as if the consolidation had not
occurred for 1986, after cancellation of the previously issued statements.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF THE COLONY:
Section 1. That all matters stated in the preamble are found to be true
and correct and are incorporated herein as if copied in their entirety.
Section 2. Tax statements previously issued to IBM, attached to this
resolution and marked Exhibit "A", which tax statements are numbered 166, 167,
168, 178, 181, 182, 199, 200, 201, 205, 206, 207, 208, 209, 210, 246 and 268, are
hereby cancelled and the City's Tax Collector and City Manager are directed
and instructed pursuant to Section 26.13 of the Property Tax Code to issue new
tax statements to IBM based on the following:
A. New tax statements shall be prepared for the IBM property en-
compassed and covered by tax statements numbers 166, 167, 168,
178, 181, 182, 199, 200, 201, 205, 206, 207, 208, 209, 210, 246 and
268 and the taxes computed on the basis of the agricultural value
placed on said property by the De~ton County Appraisal District
with a tax rate of $ .34 per $100.00 of valuation (District taxes).
B. New tax statements shall be prepared for the IBM property en-
compassed and covered by tax statements numbers 166, 167, 168,
178, 181, 182, 199, 200, 201, 205, 206, 207, 208, 209, 210, 246 and
268 and the taxes computed on the basis of the fair market value
placed on said property by the Denton County Appraisal District
with a tax rate of $ .41 per $100.00 of valuation (City taxes).
Section 3. That this resolution shall take effect from and after its
passage.
PASSED this ~j~-~day of ~/ , 1987.
Mayo ,r'~Cit~ of~l~h~ Co16n~' -
ATTEST:
City Secretary
APPROVED AS TO FORM:
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