Ord 47-2024 Levying, Assessing and Fixing Tax Rate for FY 2025 09/17/2024 Proposed Budget Option
Ordinance No. 47-2024
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 2025 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 2025 and following, to-wit:
$0.658533 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 INCREASED BY 1 .34% PERCENT AND WILL INCREASE
TAXES FOR MAINTENANCE AND OPERATIONS ON A$100,000 HOME BY
APPROXIMATELY $8.68.
$0.026267 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
$0.658533 for Maintenance & Operations
$0.026267 for Interest and Sinking Fund
Total levy for 2025: $0.684800 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 3rd day of September, 2024.
MAYOR
ATTEST:
City Clerk