2006-036-ORD-Increase exemption for homestead exemption

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ORDINANCE NO. 2006-036 AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF PARIS, PARIS, TEXAS, PROVIDING THAT THE CODE OF ORDINANCES OF THE CITY OF PARIS, PARIS, TEXAS, BE AMENDED BY REVISING SECTION 30-16, CHAPTER 30, ARTICLE II OF SAID CODE; PROVIDING FOR AN INCREASE IN THE AMOUNT OF RESIDENCE HOMESTEAD EXEMPTION FOR PERSONS SIXTY-FIVE (65) YEARS OF AGE OR OLDER; REPEALING ALL ORDINANCES OR PARTS OF ORDINANCES IN CONFLICT HEREWITH; MAKING OTHER FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND DECLARING AN EFFECTIVE DATE. WHEREAS, the City Council of the City of Paris heretofore on September 25,2006, adopted Ordinance No. 2006- 032 approving the 2006-2007 budget for the City of Paris; and, WHEREAS, a part of that budget includes an increase in the amount of residence homestead exemption for persons sixty-five (65) years of age or older from $17,000.00 to $20,000.00; NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF PARIS, PARIS, TEXAS: Section 1. That the findings set out in the preamble to this ordinance are hereby in all things approved. Section 2. That Section 30-16 of the Code of Ordinances of the City of Paris, Paris, Texas, be, and the same is hereby, amended so that such shall read as follows: "Sec. 30-16. Exemption from ad valorem taxes. Upon compliance with all requirements of this article and all other applicable laws and ordinances, twenty thousand dollars ($20,000.00) of the assessed value of residence homesteads of persons sixty-five (65) years of age or older shall be exempt from ad valorem taxes levied by the City." Section 3. All ordinances or parts of ordinances in conflict herewith are hereby expressly repealed. Section 4. This ordinance shall become effective on October 1, 2006.