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REVENUE DESCRIPTIONS, EVALUATIONS

AND PROJECTIONS

Taxes

Revenues from taxes are classified as Property Taxes, Sales Taxes, and Franchise Fees in the General Fund
Budget. These taxes are levied to provide for general municipal services and benefits to the citizens of North
Richland Hills.

Property Taxes are assessed on real and personal
Net Taxable Property Values property as of January of each year. A tax rate is
adopted by the City Council prior to the beginning of
$6.0 the new fiscal year. Property tax revenues comprise
$5.5 36.46% of 2018/2019 General Fund revenue sources,
$5.0 inclusive of delinquent taxes and penalties and
$4.5 interest. Collections are projected to be approximately
Billions $4.0 98.5% of the levy. Each year, the tax rate, as
approved by Council, is dependent on revaluation by
$3.5
$3.0 Tarrant Appraisal District to reflect current market
values. Estimated Net Taxable Value for fiscal year
$2.5
2018/2019 is $5,650,605,159.
$2.0

$1.5
2011 2012 2013 2014 2015 2016 2017 2018

New Construction – A key component of the
increase in Net Taxable Value is new construction New Construction
and improvements to existing structures. New
construction for fiscal year 2018/2019 is $120
approximately $77.74 million. $100

All tax information relative to budget decisions is not $80
available from Tarrant Appraisal District until July 25 th
of each year. At this time, all revenue sources and Millions $60
expenditure priorities are considered in preparing a $40
tax rate for the new budget year.
$20

$0 2009 2010 2011 2012 2013 2014 2015 2016 2017

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