Page 58 - City of Fort Worth Budget Book

General Fund Ad Valorem Property Tax Comparison

COMPARATIVE SUMMARY OF AD VALOREM TAX LEVIES AND COLLECTIONS

FY2021 FY2022 FY2023 FY2024
Adopted Adopted Adopted Rec.
Adjusted Net Taxable Value $ 79,878,186,534 $ 87,373,928,947 $ 100,073,539,805 $ 115,730,642,125

Tax Rate 0.7475 0.7325 0.7125 0.6725
Operating & Maintenance (O&M) 0.5950 0.5850 0.5650 0.5250
Debt Service (I&S) 0.1525 0.1475 0.1475 0.1475

Total Levy $ 597,089,444 $ 640,014,030 $ 713,023,971 $ 778,288,568

Collection Rate 98.3 % 98.3 % 98.5 % 98.5 %

Total Collection of Levy $ 586,640,379 $ 628,813,784 $ 702,328,612 $ 766,614,239

Estimated Levy Lost due to Frozen (9,335,929) (11,160,492) (13,687,852) (9,771,708)
TIF Contributions $ (20,507,004) $ (21,610,735) $ (24,646,281) $ (21,292,977)

Budgeted Revenues
General Fund (O&M) $ 443,203,318 $ 476,020,336 $ 526,535,972 $ 574,220,841
General Debt Fund (I&S) $ 113,594,128 $ 120,022,221 $ 137,458,506 $ 161,328,713
Subtotal Current Property Taxes $ 556,797,446 $ 596,042,557 $ 663,994,478 $ 735,549,554

OTHER PROPERTY TAXES

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

TOTAL PROPERTY TAXES

Operating Taxes (O&M) $ 449,126,114 $ 481,919,115 $ 532,342,391 $ 580,119,620
Debt Service Taxes (I&S) $ 114,944,128 $ 121,072,221 $ 138,508,506 $ 162,378,713

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