Page 45 - City of Fort Worth Budget Book

Budget Highlights Revenue 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 $0.5250 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: $0.52500 Operations: $0.4550
Supports day-to-day General
Fund operations such as
Police, Fire, Parks and
Overall Tax Rate: $0.6725 Libraries Capital: $0.0700
Supports Pay As You Go projects
Paid by property owners to the and purchase of capital items
City I&S (Debt): $0.1475 such as equipment and vehicles
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 $47 million
more in General Fund property tax revenue compared to FY2023. The next graph shows the ten-year property tax
trend with tax rates.

Adjusted Net Taxable Value and Tax Rate
0.90
$116
$100
$0.8550 0.80
$100
$0.6725
0.70
$80 $87
$80 0.60
$77
Billions $60 $55 $61 $68 0.50 Tax Rate per $100 of Property Value
0.40
$40 $47 $50
0.30
0.20
$20
0.10
$0 0.00
FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024

According to the certified data from the Tarrant Appraisal District, the average appraised value of a single family
home in the City of Fort Worth is $280,949 in 2023.

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