AN ORDINANCE OF THE VILLAGE OF BAILEY’S PRAIRIE, TEXAS, ADOPTING CERTAIN EXEMPTIONS FROM PROPERTY TAXES; PROVIDING FOR ADMINISTRATION; AND PROVIDING A SEVERANCE CLAUSE AND EFFECTIVE DATE.
BE IT ORDAINED BY THE BOARD OF ALDERMEN OF THE VILLAGE OF BAILEY’S PRAIRIE, TEXAS:
1. Background. The Village of Bailey’s Prairie (“the Village”) is considering assessing property taxes for fiscal year 2015. This ordinance does not assess or levy any tax.
2. Residence Homestead of Disabled Person. The Board of Aldermen of the Village of Bailey’s Prairie hereby adopts the tax exemption for disabled persons under Texas Tax Code subsections 11.13 (d and e). Accordingly, each individual who is disabled shall be entitled to an exemption from taxation by the Village of Bailey’s Prairie of $40,000.00 of the appraised value of that individual’s residence homestead.
3. Residence Homestead of Person Age 65 or Older. The Board of Aldermen of the Village of Bailey’s Prairie hereby adopts the tax exemption for persons age 65 or older under Texas Tax Code subsections 11.13 (d and e). Accordingly, each individual who is age 65 or older shall be entitled to an exemption from taxation by the Village of Bailey’s Prairie of $______________ of the appraised value of that individual’s residence homestead.
4. General Resident Homestead. The Board of Aldermen of the Village of Bailey’s Prairie hereby adopts the tax exemption for residence homesteads under Texas Tax Code subsection 11.134(n). Accordingly, each individual shall be entitled to an exemption from taxation by the Village of Bailey’s Prairie of ____________________ percent, but not less than $5,000, of the appraised value of that individual’s residence homestead.
5. Administration. The exemptions hereby adopted shall be administered, defined, enforced, and either combined or not, all as provided by Texas Tax Code section 11.13 and all other applicable law, as amended from time to time.
6. Severability. If any part of this ordinance, of whatever size, is ever declared invalid or unenforceable for any reason, the remainder of this ordinance shall remain in full force and effect.
7. Effective Date. This ordinance shall be effective immediately upon its passage and approval.
PASSED AND APPROVED this 31st day of March, 2014.
Jo Mapel, Mayor
Johnye Brown, Village Secretary