The City Council shall have power to levy for general purposes an annual ad valorem tax on all real, personal and mixed property within the territorial limits of the City of Fort Worth, not exempt from taxation by the Constitution and laws of the State of Texas, based upon the fair cash value thereof, to the extent of the constitutional limit now permitted by the Constitution of the State of Texas to cities of over five thousand (5,000) population, the same being two dollars and fifty cents ($2.50) on each one hundred dollars ($100.00) of valuation, and which said tax shall embrace all taxes for municipal purposes as provided in this Charter. The meaning of the term “real property,” as used in this chapter shall be construed to mean lots, lands, and all buildings or machinery and structures of every kind located upon or affixed to the same; and the meaning of the term “personal property,” as used in this chapter, shall be construed to include all household furniture, money, goods, chattels and capital, and all franchises subject to taxation under this chapter of the Charter, all stocks of corporations, money or otherwise, and generally all property which is not real, including all buildings and improvements, machinery and fixtures of every kind upon lots and lands not owned by the owner of the said improvements.
(Ord. 16797, § 1(XIV), 1-24-2006, approved 5-13-2006)