§ 8.16. Tax rate and method of assessment.

The city council each year shall levy and collect ad valorem taxes. The present tax rate of one dollar and thirty-one cents ($1.31) per one hundred dollars ($100.00), based on the present assessment value of forty (40) percent of true value as of the first day of January on all real estate and personal property within the city limits not exempt from taxation by the constitution and laws of Texas, may be decreased by the city council, but shall not be increased to be more than one dollar and thirty-one cents ($1.31) per such one hundred dollars ($100.00) of forty (40) percent of true value rate except by a favorable vote of those qualified to vote in city elections in an election to be held for that purpose. It is not the purpose of the above to prohibit any decrease in the tax rate and/or method of assessment but to make mandatory the consent of the voters before any change that would increase the tax rate to more than one dollar and thirty-one cents ($1.31) per one hundred dollars ($100.00) or the method of assessment to more than forty (40) percent of the true value.

(Ord. No. A-736, § 1, 7-11-77, approved at referendum 8-13-77)

Editor's note

An Ord. of Nov. 27, 1967, approved at referendum Dec. 16, 1967, reduced the tax rate from $1.41 per $100.00 assessed value to $1.31 per $100.00 assessed value. Said ordinance did not expressly amend the charter; pursuant to instructions of the city, the editor has substituted "$1.31 per $100.00" for "$1.41 per $100.00" in § 8.16 of the charter to conform the charter provisions to said ordinance.