Ord 50-2023 Levy, Assess and Fix Tax Rate for FY 2023-2024 09/05/2023 Ordinance No. 50-2023
Ordinance levying, assessing, and fixing the tax rate for the use and
support of the Wichita Falls Municipal Government and providing for
the Interest and Sinking Fund for the 2023-24 fiscal year
WHEREAS, the City Council finds that the City Council has performed all legal
prerequisites to increasing the tax rate as provided herein, in accordance with Texas Tax
Code § 26.05.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF WICHITA FALLS,
TEXAS, THAT:
1 . There shall be assessed, levied, and collected on all taxable property in the City
of Wichita Falls, Texas, for the fiscal year 2023-24 and following, to-wit:
$0.649853 on each $100.00 assessed valuation of all taxable property in
the City for the purpose of paying the general governmental operating
expenses of the City and for general improvements of said City and its
property. THIS TAX RATE WILL RAISE MORE TAXES FOR MAINTENANCE
AND OPERATIONS THAN LAST YEAR'S TAX RATE. THE TAX RATE WILL
EFFECTIVELY BE DECREASED BY 1.77% PERCENT AND WILL
DECREASE TAXES FOR MAINTENANCE AND OPERATIONS ON A
$100,000 HOME BY APPROXIMATELY $11.73.
$0.030147 on each $100.00 of assessed valuation of all taxable property in
the City for the purpose of paying interest and principal for the redemption
of bonds legally issued by said City.
RECAPITULATION OF RATE
$0.649853 for Maintenance & Operations
$0.030147 for Interest and Sinking Fund
Total levy for 2023-24: $0.680000 per $100.00 assessed valuation of all taxable
property in the City.
2. There is also levied an occupation tax on every person, firm or corporation
pursuing any of the occupations named in the Charter, ordinances and general laws of
Texas as being subject to such a tax by cities, which shall be paid in advance; said
occupation tax shall be one-half (1/2) of the state tax for similar occupations.
3. The immediate need to continue the normal operation of the business of the City
creates an emergency and in order to protect the public health, welfare, and to preserve
the peace, this ordinance shall take effect immediately, and it is so ordained.
PASSED AND APPROVED this 5th day of September, 2023.
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MAYOR
ATTEST:
10ant„--
City Clerk