Page 93 - FortWorthFY23AdoptedBudget

General Fund

Ad Valorem Property Tax Comparison

COMPARATIVE SUMMARY OF AD VALOREM TAX LEVIES AND COLLECTIONS

Adopted Adopted Adopted Adopted
FY2020 FY2021 FY2022 FY2023

Adjusted Net Taxable Value $76,994,164,245 $79,878,186,534 $87,373,928,947 $100,073,539,805
Tax Rate 0.7475 0.7475 0.7325 0.7125
Operating & Maintenance (O&M) 0.5950 0.5950 0.5850 0.5650
Debt Service (I&S) 0.1525 0.1525 0.1475 0.1475
Total Levy $575,531,378 $597,089,444 $640,014,030 $713,023,971

Collection Rate 98.50% 98.25% 98.25% 98.50%
Total Collection of Levy $566,898,407 $586,640,379 $628,813,784 $702,328,612

Estimated Levy Lost due to Frozen (7,892,432) (9,335,929) (11,160,492) (13,687,852)
TIF Contributions ($17,736,974) ($20,507,004) ($21,610,735) ($24,646,281)

Budgeted Revenues
General Fund (O&M) $430,842,884 $443,203,318 $476,020,336 $526,535,972
General Debt Fund (I&S) $110,426,117 $113,594,128 $120,022,221 $137,458,506
Subtotal Current Property Taxes $541,269,001 $556,797,446 $596,042,557 $663,994,478
OTHER PROPERTY TAXES

Vehicle Inventory $221,440 $221,440 $197,422 $556,419
Delinquent Property Taxes (O&M) $3,600,000 $3,600,000 $3,600,001 $2,750,000
Delinquent Property Taxes (I&S) $850,000 $850,000 $550,000 $550,000
Interest/Penalty Charges (O&M) $2,101,356 $2,101,356 $2,101,356 $2,500,000
Interest/Penalty Charges (I&S) $500,000 $500,000 $500,000 $500,000
Subtotal Other Property Taxes $7,272,796 $7,272,796 $6,948,779 $6,856,419

TOTAL PROPERTY TAXES
Operating Taxes (O&M) $436,765,680 $449,126,114 $481,919,115 $531,785,972
Debt Service Taxes (I&S) $111,776,117 $114,944,128 $121,072,221 $138,508,506

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