Page 49 - CityofHaltomFY24Budget
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City Of Haltom City Annual Budget, Fy2024  Budget Overview  City Of Haltom City Annual Budget, Fy2024  Budget Overview



 PROPERTY VALUES, TAX RATES REVENUES  MAJOR REVENUES



 Fiscal  Assessed  Percent  Average   M&O Rate  I&S Rate  Tax Rate  Average  PROPERTY TAX
 Year  Valuation  Change Taxable Value Per $100  Per $100  Per $100  Tax
 2014  $1,602,758,757  1%  $64,622  0.479990  0.220000  0.699990  $452  The City’s property tax is levied based on appraised value of property as determined by the Tarrant
 2015  $1,676,480,896  5%  $67,052  0.479990  0.220000  0.699990  $469  County Appraisal District. The Tarrant County Tax Office bills and collects the property tax for the
 2016  $1,682,741,323  0%  $67,310  0.462316  0.237674  0.699990  $471  City.
 2017  $1,842,343,558  9%  $77,187  0.462316  0.237674  0.699990  $540  The tax  rate is $0.567283  per $100 assessed valuation, which consists of $0.371831  for
 2018  $1,965,607,988  7%  $86,551  0.455180  0.213000  0.668180  $578  maintenance and operations cost (recorded in the General Fund) and $0.195452 for principal and
 2019  $2,145,251,779  16%  $96,055  0.423000  0.230000  0.653000  $627  interest payments on bond indebtedness (recorded in the Debt Service Fund).
 2020  $2,434,006,207  24%  $109,685  0.413730  0.252030  0.665760  $730
 2021  $2,570,400,175  6%  $116,748  0.403752  0.262008  0.665760  $777  Outlook
 2022  $2,767,760,865  7.7%  $130,404  0.395769  0.249882  0.645651  $842  Property tax revenues for FY2024 have increased by 8% due to higher in property values and new
 2023  $3,143,425,219  13.6%  $152,153  0.376427  0.231735  0.608162  $925  growth. Property value is based on the tax roll certified by the Tarrant County Appraisal District. For
 2024  $3,663,528,267  16.5%  $178,181  0.371831  0.195452  0.567283  $1,011  future years, the growth should continue as more of the developments are completed and newer
          properties are included on the tax rolls.


 Property Value and Tax Rate  Major Influence

 4.0  $0.80  Factors affecting property tax revenues include population, development, property value, tax rate,
          and tax assessor appraisal and collection rate.
 3.5  $0.75
 3.0  $0.70                                                                                        Percent of
                Fiscal Year         General Fund      Debt Service Fund          Total
 2.5  $0.65                                                                                        Changes
 Billion  2.0  $0.60  FY14                         7,702,997                  3,526,990                 11,229,987  5.9%

 1.5  $0.55        FY15                            7,941,285                  3,636,079                 11,577,364  3.1%
                   FY16                            7,876,104                  4,022,127                 11,898,231  2.9%
 1.0  $0.50
                   FY17                            8,515,314                  4,352,034                 12,867,348  8.4%
 0.5  $0.45
                   FY18                            9,326,617                  4,331,228                 13,657,845  6.6%
 0.0  $0.40        FY19                            9,451,150                  5,138,500                 14,589,650  7.2%
 FY14  FY15  FY16  FY17  FY18  FY19  FY20  FY21  FY22  FY23  FY24
                   FY20                          10,074,387                  5,981,136                 16,055,523  10.7%
 Assessed Value  Tax Rate per $100  FY21                 10,263,788                  6,271,130                 16,534,918  3.3%
                   FY22                          10,924,286                  6,952,732                 17,877,018  8.4%
                   FY23                          11,805,499                  7,214,306                 19,019,805  6.9%
                   FY24                          13,290,015                  7,151,428                 20,441,443  8.0%
 Property Tax Rates
 0.80                                         PROPERTY TAX REVENUES
 0.70               $20.00
 0.60  0.22000  0.23767  0.23767  0.21300  0.23000  0.23000  0.25203  0.26201  0.24988  $18.00           $7.15
 0.50  0.23174  0.19545  $16.00                                                          $6.95   $7.21
                    $14.00
 0.40               $12.00                                 $4.33  $5.14   $5.98   $6.27

 0.30          MILLIONS  $10.00  $3.53  $3.64  $4.02  $4.35
 0.20                $8.00                                                                       $11.81  $13.29
                     $6.00
 0.10  0.47999  0.46232  0.46232  0.45518  0.42300  0.42300  0.41373  0.40375  0.39577  0.37643  0.37183  $4.00  $7.70  $7.94  $7.88  $8.52  $9.33  $9.45  $10.07  $10.26  $10.92
 0.00                $2.00
 2014  2015  2016  2017  2018  2019  2020  2021  2022  2023  2024  $0.00
                            FY14    FY15    FY16   FY17    FY18    FY19   FY20    FY21    FY22   FY23    FY24
 Maintenance and Operations  Interest & Sinking
                                                   General Fund  Debt Service Fund
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