Ordinance 1992-10
ORDINANCE NO.
t1eJ.~/O
AN ORDINANCE FIXING THE TAX RATE AND LEVY IN AND FOR THE CITY OF
WYLIE, TEXAS FOR THE YEAR 1992, UPON ALL TAXABLE PROPERTY IN SAID
CITY OF WYLIE, TEXAS, FOR THE PURPOSE OF PAYING THE CURRENT
EXPENSES OF SAID CITY OF THE FISCAL YEAR ENDING SEPTEMBER 30,
1993, AND THE FURTHER PURPOSE OF CREATING A StMKIHG FUND TO
RETIRE AND THE PRINCIPAL AND INTEREST OF THE BONDED INDEBTEDNESS
OF SAID CITY: PROVIDING FOR A LIEN ON ALL REAL AND PERSONAL
PROPERTY TO SECURE PAYMENT OF TAXES DUE THEREON: PROVIDING THAT
IN THE EVENT ANY PROVISIONS OF THIS ORDINANCE BE HELD
UNCONSTITUTIONAL AND THAT SUCH HOLDING SHALL NOT AFFECT THE
REMAINING PROVISIONS HEREOF: REPEALING ALL ORDINANCES AND PARTS
THEREOF IN CONFLICT HEREWITH AND PROVIDING FOR PUBLICATION:
WHEREAS, the City Council has this date, by way of Ordinance
duly passed, adopted a Budget for operation of the City for
fiscal year 1993; and,
WHEREAS, the aforesaid Ordinance anticipates and requires
the levy of an ad valorem tax on real property in the City of
Wylie; and,
WHEREAS, it is necessary to levy such an ad valorem tax at a
given rate to generate revenues sufficient to meet projected
revenues; and,
WHEREAS, the City has fully and timely complied with all
notice and other requirements relative to the adoption of a tax
rate for fiscal year 1993; and,
WHEREAS, the proposed tax rate, herein after set forth is
the same rate as that levied by the City in the previous fiscal
year and therefore not subject to protest;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE
WYLIE, TEXAS, as follows:
SECTION I
There is hereby levied for the fiscal year 1992 upon all real
property situated wi thin the corporate limits of said City of
Wylie, Texas, and upon all personal property which was owned
within the corporate limits of said City of Wylie, Texas, on the
first day of January, A.A., 1992, except so much thereof as may
be exempt by the Constitution of laws of the State of Texas, a
total tax of Sixty-one and one-half cents (0.6150), on each One
Hundred ($100.00) Dollars of assessed valuation on all of said
property which said total tax here now levied as aforesaid is
respectively as follows:
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SECTION II
An ad valorem tax of and at the rate of Forty-six and four
hundred and one hundredths cents ( 0 . 46401) on each One Hundred
Dollars ($100.00) of assessed valuation of said taxable property
is hereby levied for the year 1992, for the general city purposes
and to pay the current operating expenses of said City of Wylie,
Texas, for the fiscal year ending september 30, 1993, which tax,
when collected shall be appropriated to and for the credit of the
General Fund of said City of wylie, Texas.
SECTION III
An ad valorem tax of and at the rate of Fifteen and Ninety-nine
thousandth cents (0.15099) on each One Hundred ($100.00) of
assessed valuation of said taxable property is hereby levied for
the year of 1992 for the purpose of creating an Interest and
Sinking Fund with which to pay the interest and retire the
principal of the valid bonded indebtedness, capital lease
payments, and related fees of the City of Wylie, now outstanding
and such tax when collected shall be appropriated and deposited
in and to the credit of the Interest and Sinking Fund of the said
Ci ty of Wylie, Texas for the fiscal year ending September 30,
1993.
SECTION IV
The City of Wylie shall have a lien on all taxable property
located in the City of Wylie to secure the payment of taxes,
penalty interest, and all costs of collection, assessed, and
levied hereby.
SECTION V
Taxes are payable in Wylie, Texas at the Office of the Tax-
Assessor Collector, Finance Department, Municipal Complex. The
City shall have available all the rights and remedies provided by
law for the enforcement of the collection of taxes levied under
this ordinance.
SECTION VI
That the tax roll presented do the City Council, together with
any supplements thereto, be and same are hereby accepted. (See
attachment - effective Rate for 1992)
SECTION VII
In the event any provision of this Ordinance shall be held
unconstitutional and invalid by a court of competent
jurisdiction, the same shall not affect the remaining provisions
thereof.
SECTION VIII
All Ordinances and part thereof in conflict with any of the
provisions of this ordinance are hereby expressively repealed.
SECTION IX
The caption of this ordinance to be published one time in a
newspaper having general circulation in the City of Wylie, Texas,
and to become effective immediately upon its passage and
publication.
PASSED AND APPROVED, AND ORDERED PUBLISHED BY TH/E S[TYJ~~CIL OF
THE CITY OF WYLIE, TEXAS, THIS THE ~DAY OF~, 1992.
ATTEST:
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24-Aug-92
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NOTICE OF EFFECTIVE TAX RATE
1992 PROPERTY TAX RATES IN CITY OF WYLIE
This notice concerns 1992 property tax rates for CITY OF WYLIE
It pcesents intormation about three tax rates. Last year's tax rate is
the actual rate the taxing unit used to determine property taxes last
year. This year's effective tax rate would impose the same total taxes
as last year if you compare properties taxed in both years. This year's
rollback tax rate is the highest tax rate the taxing unit can set before
taxpayers can start tax rollback procedures. In each case these rates
are found by dividing the total amount of taxes by the tax base (the
total value of taxable property) with adjustments as required by state
law. The rates are given per $100 of property value.
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LAST YEAR'S TAX RATE:
Last year's operating taxes......................
Last year's debt taxes...........................
Last year's total taxes..........................
Last year's tax base.............................
Last year's total tax rate (per $100)............
THIS YEAR'S EFFECTIVE TAX RATE:
Last year's adjusted taxes.......................
(after subtracting taxes on lost property)
/ This year's adjusted tax base....................
(after subtracting value of new property)
= This year's effective tax rate (per $100)........
x 1.03 = maximum rate unless unit publishes
notices and holds hearing (per $100)*............
THIS YEAR'S ROLLBACK TAX RATE:
Last year's adjusted operating taxes
(after subtracting taxes on lost property).......
/ This year's adjusted tax base....................
- This year's effective operating rate (per $100)..
x 1.08 (or add $.08 for schools) = this year's
maximum operating rate (per $100)................
+ This year's debt rate (per $100).................
= This year's rollback rate (per $100)...
$1,451,827
$605,020
$2,056,847
$334,446,690
0.61500
$2,048,258
$304,651,580
0.67232
o .' 6 924 8
$1,479,575
$304,651,580
0.48566
0.52451
0.15099
0.67550