Page 37 - CityofForestHillFY25AdoptedBudget
P. 37
Major Revenue Sources
The major revenue sources for the City are:
• Ad valorem (property) taxes
• Sales tax
• Franchise fees
• Hotel/Motel occupancy tax
• Other Governmental Sources
• Water and sewer service
Each of these sources of revenue plays a vital role in determining the fiscal health of the City.
REVENUE FORECASTING
Revenue forecasts are largely based on trend analysis, with an emphasis on current and expected
future economic conditions with the national, state, and local economy. Any changes in law that
might affect revenue streams must also be considered.
AD VALOREM TAXES – NET TAXABLE VALUE
AD VALOREM TAXES – NET TAXABLE VALUE
Ad valorem taxes attach an enforceable lien on all real, personal, and business property in the
City of Forest Hill. The amounts of property taxes that the City expects to collect are based on
the certified roll calculated by the Tarrant Appraisal District, on behalf of the City. The July 2024
certified net taxable value of $1,004,120,288 is a 9.39% increase from the July 2023 net taxable
value of $917,909,069. The tax year is the calendar year beginning January 1, while the fiscal year
begins October 1 each year.
34 of 84
