Page 59 - Fort Worth City Budget 2019

Budget Highlights

Revenue Highlights

Property Taxes

The FY2019 Adopted Budget decreases the city’s property tax rate to $0.7850 per $100 net taxable valuation. The
total appraised value of the city’s property tax roll increased $7.6 billion or 9.2 percent from the July 2017 certified
roll to the July 2018 certified roll. Adjusted Net Taxable Value (which is the Net Taxable Value plus the value of
incomplete properties and properties under protest), increased $6.6 billion or 10.9 percent in the same time
period across all properties within the City of Fort Worth. Adjusted Net Taxable Value is the basis for the city’s
property tax revenue calculation.

To address current needs, the decision was made to reduce the overall tax rate by two cents ($0.02), with a
decrease in the operating and maintenance (O&M) rate of just over one cent ($0.0115) and a decrease in the
interest and sinking (I&S) rate of slightly under one cent ($0.0085). The allocation and use of the O&M rate versus
the I&S rate is depicted in the diagram below.

O&M: $0.6300 Operations: $0.5650
Supports day-to-day
General Fund operations
such as Police, Fire, Parks
Overall Tax Rate: $0.7850 and Libraries Capital: $0.0650
Supports Pay As You Go projects
Paid by property owners to the and purchase of capital items
city I&S (Debt): $0.1550 such as equipment and vehicles
Supports bonds for long-
term infrastructure projects
like roads, parks and other
city facilities

As a result of the increase in values, the city is projected to collect $30.5 million more in General Fund property
tax revenue (which includes delinquent, penalty, and interest) than in FY2018. The increase in property tax
revenue from FY2018 is primarily due to 10.9 percent increase in the adjusted net taxable value for properties
mainly within the Tarrant County Appraisal District for FY2019. The next graph shows the ten-year property tax
trend.
Adjusted Net Taxable Value
$70
$68
$60
$61
$50 $55
$50
$47
Billions $40 $42 $41 $42 $43
$44
$30
$20

$10
$0
FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019

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