Ord 109-2001 12/4/2001N
ORDINANCE NO. - ICO
ORDINANCE OF THE CITY COUNCIL OF THE CITY OF WICHITA
FALLS, TEXAS, AMENDING PART II, CHAPTER 98, TAXATION,
ARTICLE IV, SECTIONS 98 -126 — 127, OF THE CODE OF
ORDINANCES, TAX FREEZE FOR HISTORIC PRESERVATION;
FINDING AND DETERMINING THAT THE MEETING AT WHICH THIS
ORDINANCE WAS PASSED WAS OPEN TO THE PUBLIC AS
REQUIRED BY LAW.
WHEREAS, the Landmark Commission, a Commission appointed by City
Council, has recommended amending Sections 98- 126 -127 of the Code of Ordinances;
and
WHEREAS, the City Council has determined that the changes recommended
herein are in the public interest:
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
OF WICHITA FALLS, TEXAS, THAT:
SECTION 1. Section 98 -126 of the Wichita Falls Code of Ordinances, entitled
Historic landmark tax freeze, is hereby amended to read as follows:
"Sec. 98 -126. Historic landmark tax freeze.
The city council may by ordinance approve a tax freeze on both the land and
improvements for eligible historic landmarks or land and improvements within
designated historic districts, which the city council determines is in need of tax relief to
encourage its preservation. The qualifying historic landmark will be taxed on an annual
assessed value equal to the assessed value on the tax year immediately before the
rehabilitation was commenced. The tax freeze will begin the first day of the first tax year
after the completion of the project for which there has been an approved design review,
and where the improvements are in accordance with the approved design review. "
SECTION 1. Section 98 -127 of the Wichita Falls Code of Ordinances, entitled
Eligibility, is hereby amended to read as follows:
"Sec. 98 -127. Eligibility.
To be eligible for a city property tax freeze as provided in this article, the property
must be designated a local historic landmark by the city council or be contained within a
locally designated historic district and shall meet all of the following conditions:
(1) The cost of the rehabilitation project must:
(a) For commercial projects or improvements, 50 percent of the assessed
valuation of the structure for the year the rehabilitation is to begin or $100,000.00,
whichever is less. The tax freeze shall not exceed five years following completion of the
rehabilitation project.
(b) For a single - family residence, 25 percent of the assessed valuation of
the structure for the year the rehabilitation is to begin or $50,000.00, whichever is less.
The tax freeze shall not exceed eight years following completion of the rehabilitation
project.
(2) The plans and proposals for the rehabilitation project must be approved by
the Landmark commission.
(3) The historic landmark must not have been granted a previous property tax
freeze under this article for the restoration or rehabilitation of the historic landmark.
(4) The rehabilitation project must begin within six months from the date of
design review approval.
(5) Should the project receive Tax Increment Finance (TIF) funds, no tax
freeze as provided under this article shall be permitted."
SECTION 3. 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 4th day of December, 2001.
ATTEST:
City berk
/MAYOR
Affidavit of Publication
THE STATE OF TEXAS
COUNTY OF WICHITA 1430419
= ;his 10th day of December, 2001 A.D appeared before me,
oRo �E NO•10-2 indersigned authority, Saundra Barnett, bookkeeper for the Times Publishing
ORDINANCE OF
THE CITY COON- ipany of Wichita Falls, publishers of the Wichita Falls Times/Record News, a
CIL OF THE CITY
OF WICHITA ;paperpublished at Wichita Falls in Wichita Count Texas, and upon being
FALLS, TEXAS, h 1� Y> P
PAEDING
II,CHAP- sworn by me, on oath states that the attached advertisement is a true and
TON,98,
RT TAXA-
TION, ct copy of advertising published in One (1 ) issues thereof on the following
IV, SECTIONS
98-126 - 127, OF : December 9th 2001.
THE CODE OF
ORDINANCES,
TAX FREEZE
FOR HISTORIC
PRESERVATION
Ofitgli Leal
Saundra Barnett
Bookkeeper for the Times Publishing
Company of Wichita Falls
(Seal) Subscribed and sworn to before me this the day and year first above written:
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