Page 40 - Haltom City FY20 Approved Budget
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City of Haltom City Annual Budget, FY 2020
Overview
MAJOR REVENUES
PROPERTY TAX
The City’s property tax is levied based on appraised value of property as determined by the
Tarrant County Appraisal District. The Tarrant County Tax Office bills and collects the property
tax for the City.
The combined tax rate is $0.6657 per $100 assessed valuation, which consists of $0.41373 for
maintenance and operations cost (recorded in the General Fund) and $0.25203 for principal and
interest payments on bond indebtedness (recorded in the Debt Service Fund).
Outlook
Property tax revenues for FY2020 has increased by 10% mainly due to increase in property value
and Increased tax rate. Property value is based on the certified tax roll from the Tarrant County
Appraisal District. For future years, the growth will be moderate as there are fewer new
developments in a matured city.
Major Influence
Factors affecting property tax revenues include population, development, property value, tax rate
and tax assessor appraisal and collection rate.
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