Ord 115-2001 12/18/2001ORDINANCE NO. �� s -aCO t
ORDINANCE EXERCISING THE CITY'S OPTION TO CONTINUE
TAXING LEASED MOTOR VEHICLES THAT ARE USED FOR
PERSONAL USE; FINDING AND DETERMINING THAT THE MEETING
AT WHICH THIS ORDINANCE WAS PASSED WAS OPEN TO THE
PUBLIC AS REQUIRED BY LAW.
WHEREAS, the 77" Legislative Session adopted Senate Bill 248 which amended
the Texas Property Tax Code by adding Section 11.252; and
WHEREAS, this bill allows motor vehicles leased primarily for personal use to be
exempted from ad valorem taxes beginning with the 2002 tax year; and
WHEREAS, the Wichita County Appraisal District estimates that this exemption
will negatively impact the City's property tax base by $13,000,000; and
WHEREAS, this exemption will reduce revenue to the City's General Fund by
approximately $71,752, and
WHEREAS the bill allows cities an option to continue to tax such vehicles if an
ordinance is adopted prior to December 31, 2001 expressing the City's intent to opt out
of this exemption, and
WHEREAS, the City Council desires to adopt such an ordinance.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
OF WICHITA FALLS, TEXAS, THAT:
SECTION 1. The City of Wichita Falls hereby expresses its intent to use its
option to continue to tax motor vehicles leased primarily for personal use as allowed in
Senate Bill 248.
SECTION 2. It is hereby officially found and determined that the meeting at
which this ordinance was passed was open to the public as required by law.
PASSED AND APPROVED this the 18th day of December 2001.
ATTEST:
" 2��. .
/MAYOR