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ADOPTED | 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
$8.5
$7.5

$6.5
Billions $5.5
$4.5
$3.5
$2.5
$1.5
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

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 44.5% of 2022/23 General Fund revenue sources,
inclusive of delinquent taxes and penalties and interest. Collections are projected to be
approximately 100% 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 2022/23 is $7,322,302,762.

New Construction

$200 New Construction – A key component of the
increase in Net Taxable Value is new
$150
construction and improvements to existing
$100 structures. New construction for fiscal year
2022/23 is approximately $176.94 million.
$50

$0
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

115 NRH | TEXAS