Following a very brief special-called session Tuesday night, the Cadiz City Council unanimously approved upon second reading its ad valorem tax code for the 2022-23 fiscal year.
Among its stipulations include levies of .242 cents per $100 assessed value for real property, and .2178 cents per $100 of assessed value for personal property.
This is a slight declination from last year.
A 10% penalty is incurred for all payments delinquent after December 31 of this year, plus an interest rate of 1% per month past due date. All previous year’s delinquent taxes will continue to accrue interest at a rate of 1% per month until paid in full.
The Cadiz “Motor Vehicle” tax rate will amount to 26.2 cents per $100 of assessed value for each vehicle licensed by a resident of the city.
