Page 54 - Fort Worth City Budget 2019

Budget Highlights

Ad Valorem Property Tax Comparison

COMPARATIVE SUMMARY OF AD VALOREM TAX LEVIES AND COLLECTIONS

Budget Budget Budget Adopted
FY2016 FY2017 FY2018 FY2019

Adjusted Net Taxable Value $49,627,376,942 $54,520,574,865 $60,950,027,101 $67,584,971,603

Tax Rate 0.8550 0.8350 0.8050 0.7850
Operating & Maintenance (O&M) 0.6759 0.6615 0.6415 0.6300
Debt Service (I&S) 0.1791 0.1735 0.1635 0.1550

Total Levy $424,314,073 $455,246,800 $490,647,718 $530,542,027

Collection Rate 98.50% 98.50% 98.50% 98.50%
Total Collection of Levy $417,949,362 $448,418,098 $483,288,002 $522,583,897

Estimated Levy Lost due to Frozen (3,340,082) (4,774,302) (6,192,252)
TIF Contributions ($14,323,934) ($17,436,900) ($19,815,120) ($22,976,696)

Budgeted Revenues
General Fund (O&M) $319,076,522 $338,783,950 $365,534,335 $395,989,067
General Debt Fund (I&S) $84,548,905 $88,857,166 $93,164,246 $97,425,882
Subtotal Current Property Taxes $403,625,428 $427,641,116 $458,698,580 $493,414,949
OTHER PROPERTY TAXES

Vehicle Inventory $267,600 $267,600 $267,600 $267,600
Delinquent Property Taxes (O&M) $2,427,413 $2,524,510 $3,600,000 $3,600,000
Delinquent Property Taxes (I&S) $500,000 $850,000 $650,000 $850,000
Interest/Penalty Charges (O&M) $1,910,324 $2,101,356 $2,101,356 $2,101,356
Interest/Penalty Charges (I&S) $0 $500,000 $500,000 $500,000
Subtotal Other Property Taxes $5,105,337 $6,243,466 $7,118,956 $7,318,956

TOTAL PROPERTY TAXES

Operating Taxes (O&M) $323,681,859 $343,677,416 $371,503,291 $401,958,023
Debt Service Taxes (I&S) $85,048,905 $90,207,166 $94,314,246 $98,775,882

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