Loading...
HomeMy WebLinkAboutRES 01-306 RESOLUTION NO. 01-306 WHEREAS,tax abatement is predicated on a finding thatthe property located at 461- 469 Bowie, is a historically significant site in need of tax relief to encourage preservation;and, WHEREAS, the Historic Landmark Commission has met and considered this application and has found the site to be an historically significant site in need of tax relief to encourage preservation and certified this factto the Planning Director of the City of Beaumont; and, WHEREAS, the City's Planning Director has forwarded the application to the City Council, as required by the ordinance of the City of Beaumont; and, WHEREAS,the Council desires to approve the eligibility of the property for tax relief pursuant to the ordinances of the City of Beaumont; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF BEAUMONT: THAT the application for tax exemption for the property located at 461-469 Bowie,being Lots 334 and 335, Block 51 of the Beaumont Addition,to the City of Beaumont,Jefferson County, Texas, is hereby approved and the City Council hereby affirmatively finds that all the requirements of Article IV of Chapter 25 of the Code of Ordinances of the City of Beaumont, as amended, have been met and that the site is a historically significant site in need of tax relief to encourage preservation and that, in accordance with the ordinances of the City of Beaumont,the assessed value for ad valorem taxation of the subject tract and property shall be equal to the assessed value prior to preservation for an initial period of five (5)years. In the sixth year of the exemption period, the assessed value shall be equal to 80% of the assessed value of the property as improved. In year seven (7)the assessed value shall be equal to 60%of the improved assessed value. The assessed value for taxation in year eight (8)shall be 40%of the assessed value as improved. The assessed value for taxation in year nine(9)shall be 20%of the assessed value of the property as improved. In yearten(10)and the years that follow, the property shall be assessed from ad valorem taxation purposes at 100%of its improved assessed value. This exemption shall begin on the first(1 st)day of the first(1 st)tax year after verification of completion of the preservation required for certification, provided that the provision of Section 25-58 of the Code of Ordinances have been met and that such verification is made by the City of Beaumont Historical Landmark Commission. PASSED BY THE CITY COUNCIL of the City of Beaumontthis the 11th day of December, 2001. W, - Mayor-