HomeMy WebLinkAboutORD 86-0041 - Res Homestead Exempt9
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ORDINANCE AMENDING THE RESIDENCE HOMESTEAD
PERSONS OVER SIXTY-FIVE YEAR OF AGE IN THE
GEORGET041N . '
EXEMPTION OF
CITY OF
From and after January 1, 1986, twelve thousand dollars ($12,000.00)
of the market value of residence homesteads, as defined by law,
of married or unmarried persons who have attained the age of
sixty-five (65) years on or before January 1st of the year for
which the exemption is claimed, Including those living alone,
shall be exempt from city ad valorem taxes; and provided that an
eligible adult is entitled to receive any other applicable exemptions
provided by law; and provided that where the ad valorem tax has
been pledged for the payment of any debt, the taxing officer
of the political subdivisions shall have authority to continue
to levy and collect the tax against the homestead property at
the same rate as the tax so pledged, until the debt is discharged,
if the cessation of the levy would Impair the obligation
of the contract by which the debt was created.
PASSED AND, APPROVED ON FIRST READING THIS day of
August,.1986.
PASSED AND APPROVED ON SECOND READING THIS day of
ATTEST:
City Secretary
Jim Colbert, Mayor
Jim Colbert, Mayor
ATTEST:
Mr. Pat Caballero, City Secretary
APPROVED TO FORM:
Stump &
ump, q-fty Attorney
tax rate ordnance 1986 page 2 of 2