Page 78 - City of Fort Worth Budget Book

Budget Highlights Revenue Highlights

The estimate of the FY2025 tax revenue is based on the certified data provided by the central appraisal districts of
Tarrant, Denton, Wise and Parker Counties in July 2024. The assumed collection rate is 98.50% for the purpose
of estimating revenue. Other factors affecting current property tax revenue are the exemptions to assessed
valuation authorized by the State and additional exemptions and freezes granted on a local option and approved
by City Council, plus contributions made to the use of Tax Increment Financing (TIFs).

The most significant exemptions approved by the City Council are:
• The general homestead exemption of 20 percent available to all residential homestead properties;
• An increase from $60,000 to $80,000 in FY2025 provides additional homestead exemption granted to
citizens who are age 65 and older, and/or Disabled residence homestead owners;
• A 100% exemption on qualifying childcare facilities as allowed by the Texas legislature beginning in tax
year 2024; and
• The freeport exemption for commercial goods to be exported from the state.

The table below indicates the loss of taxable value for various exemptions from the certified roll, as well as
calculations for budgeted revenue:

Total Appraised Value $ 165,700,461,389
Less
Disabled Veteran 1,144,989,544
Over 65 3,493,897,942
Disabled/Over 65 131,968,711
Homestead 10,330,194,770
Disabled Person 161,940,246
Inventory 6,298,814,889
Solar / Wind Power 4,799,760
Pollution Control 6,264,499
Foreign Trade Zone 1,048,694,668
Historic Sites 7,988,087
Prorated Absolute
Community Housing Development 127,735,013
Abatement Value Loss 198,130,138
Nominal Value Accounts 6,850,715
Freeze Taxable (Denton/Parker)
Homestead Cap
Transfer Adjustment TAD 3,477,117
Misc Personal Property 531,731,403
Absolute Exemptions 16,579,564,542
Property Damaged by Disaster 4,542,132
Sub-Total Exemptions 40,119,711,168
Net Taxable Value $ 125,580,750,221
Less
Total Appraised Value of Properties Under Protest $ 4,270,555,639
Total Appraised Value of Incomplete Properties $ 3,944,147,206

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