Page 71 - FortWorthFY23AdoptedBudget

Budget Highlights

Adjusted Net Taxable Value is the basis for the City’s property tax revenue calculation.

The tax rate is further delineated between operating and debt rates. The operating and maintenance (O&M) rate
of $0.5650 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: $0.56500 Operations: $0.4950
Supports day-to-day
General Fund operations
Overall Tax Rate: $0.7125 such as Police, Fire, Parks Capital: $0.0700
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 $68 million
more in general property tax revenue compared to FY2022. 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 $100 0.80
0.70
$87 $0.7125
$80
$80
$77 0.60
Billions $60 $61 $68 0.50 Tax Rate per $100 of Property Value
$55 0.40
$50
$47
$40 $44
0.30
0.20
$20
0.10

$0 0.00
FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023

According to the certified data from the Tarrant Appraisal District, the average appraised value of a home in the
City of Fort Worth is $243,417 in 2022. Assuming the home is located within the Fort Worth Independent School
District and Tarrant County jurisdictions, the taxes are estimated to be $5,468. 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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