A proposed ordinance to establish the maximum tax rate

By Sid Johnson

The following is provided in draft form for your consideration and comment.  Please feel free to suggest additions or changes as you deem appropriate.  Our intent is to circulate this proposed ordinance as a petition, ultimately to be placed on the ballot for enactment.

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An ordinance to establish the maximum tax rate to be applied to real property in the City of Weatherford Texas, to define the taxable value of said property, establish Homestead Property Tax Exemption Valve, establish the fixed value for real homestead property for senior citizens and prohibit agricultural property as a tax status for taxation purpose.

Be it enacted by the City Council of the City of Weatherford Texas an ordinance;

a)      To establish the maximum tax rate for real property located in the City of Weatherford as 50 cents (US) per one hundred ($100.00) of established the taxable fair market value.

b)      Fair market value shall be establish for real property in the City of Weatherford

Texas through a Texas licensed real estate appraiser using the standards to establish fair market valve of the said property as if it was being use as collateral for a mortgage on said property.

c)      Established taxable value, once established, shall be used for the next for the next 3 years (36 months minimum) to determine the property tax for said property.

d)      Taxable value will be re-established upon sell, transfer of title of the said property as of the sale date.

A homestead property tax exemption;

a) Real property occupied by citizens vested in the Deed of Trust as the owners of said property who occupy said property as their primary residence

b) Homestead exemption shall be $25,000 of the fair market valve of said real property

c) No other exemption will be allowed of said homestead property.

Senior citizens;

a) Shall have the established value of said homestead property fixed as the taxable value as of the older spouse’s 65th birthday and forward

a)      Name(s) vested on the Deed of Trust of said property

b)      Occupies said real property as their primary residence,

c)      Senior citizen established value shall be extended to a spouse, 65 or older and as b and c above, upon the death of the other spouse

d)      Senior citizen established value shall be extended to blood relative of who become the property owners through inheritance and as a, b , and c above through the third (3rd) generation (grand children)

Non-homestead property and commercial/industrial properties;

a)      Shall be the fair market value of said property as established by a Texas license real estate appraiser using established standards to establish the fair market value of said property as if it was being used as collateral for a loan from a commercial lending institution

b)      No exemptions or abatments shall be allowed of said established value

No property within the City of Weatherford Texas shall be deemed agricultural property for taxation purposes.

One response

  1. I don’t believe in non-agricultural exemptions, generally speaking, be they homestead or senior.

    The abolishment of agricultural designation is not reasonable, especially to those in the southern annexation who just got involuntarily added to the city.

    Ordinances are enacted by the city council, not popular vote. I’m not sure how this is intended to be implemented from a legal standpoint.

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