Page 70 - FortWorthFY22AdoptedBudget

Budget Highlights

The tax rate is further delineated between operating and debt rates. The operating and maintenance (O&M) rate
of $0.5850 cents and the interest and sinking (I&S) rate at $0.1475 cents. The allocation and use of the O&M rate
versus the I&S rate is depicted in the diagram that follows.

O&M: $0.58500 Operations: $0.5200
Supports day-to-day
General Fund operations
Overall Tax Rate: $0.7325 such as Police, Fire, Parks Capital: $0.0650
and Libraries
Supports Pay As You Go projects
and purchase of capital items
Paid by property owners to the such as equipment and vehicles
City I&S (Debt): $0.1475
Supports bonds for long-
term infrastructure projects
like roads, parks and other
City facilities

As a result of both new construction and increases in existing values, the city is projected to collect $39 million
more in General Fund property tax revenue compared to FY2021. The next graph shows the ten-year property
tax trend with tax rates.

Adjusted Net Taxable Value and Tax Rate
0.90
$100 $0.8550 0.80
$0.7325
0.70
$80 $87
$80 0.60
$77
$60 $61 $68 0.50
Billions $55 0.40 Tax Rate per $100 of Property Value
$40 $44 $47 $50
$43 0.30
0.20
$20
0.10

$0 0.00
FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022

According to the certified data from the Tarrant Appraisal District, the average appraised value of a home in the
City of Fort Worth is $216,539 in 2021. Assuming the home is located within the Fort Worth Independent School
District and Tarrant County jurisdictions, the taxes are estimated to be $5,168. Rates are based on current
adopted rates for each taxing entity. The chart below demonstrates how taxes are shared among the taxing
entities.

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