Page 101 - N. Richland Hills General Budget

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.

Net Taxable Property Values

$6.5
$6.0
$5.5
$5.0
$4.5
Billions $4.0
$3.5
$3.0
$2.5
$2.0
$1.5
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Property Taxes are assessed on real and personal property as of January of each year. A tax rate
is adopted by the City Council prior to the beginning of the new fiscal year. Property tax revenues
comprise 40.19% of 2020/21 General Fund revenue sources, inclusive of delinquent taxes and
penalties and interest. Collections are projected to be approximately 97.97% of the levy. Each year,
the tax rate, as approved by Council, is dependent on revaluation by Tarrant Appraisal District to reflect current
market values. Net Taxable Value for fiscal year 2020/21 is $5,956,423,464.

New Construction

$120
$100
New Construction – A key component of
$80 the increase in Net Taxable Value is new
Millions $60 construction and improvements to existing

$40 structures. New construction for fiscal year 2020/21
is approximately $71.1 million.
$20
*Data depicted in chart represents tax years.
$0
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

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