Page 8 - Report

Ad Valorem Taxes

Ad Valorem taxes, or property taxes, are based on the certified property values provided by the Tarrant County
Appraisal District. The Tax Assessor for Tarrant County calculates the De Minimis (applicable to cities with a
population less than 30,000), No New Revenue, and Voter Approval rates.

• De Minimis Rate: Rate necessary for cities to raise $500,000 with current year values and pay for debt.
• No New Revenue Rate: The rate that provides the same amount of revenue on the same properties from
the certified roll from the previous year, less any new property annexed or new improvements.
• Voter Approval Rate: Rate that if adopted by the taxing entity, automatically triggers an election on the
rate.

The total tax rate is a combination of the maintenance and operations rate (M&O) and the debt rate (Interest
and Sinking).

For the City, the 2024 proposed rates are:

• Total Tax Rate: $.722033 per $100 of valuation
o Maintenance & Operations (M&O) rate: $.663594 per $100 of valuation
o Debt Service (Interest & Sinking) Rate: $.058439 per $100 of valuation.

FY 2024-2025 Adopted Budget 8 August 20, 2024