Page 79 - City of Fort Worth Budget Book

Budget Highlights Revenue Highlights

Net Taxable Value (Certified) $ 117,353,239,390
Plus
Est. Minimum value of protest properties $ 2,565,974,257
Est. Minimum Taxable Value of Incomplete Properties $ 1,997,965,893
Adjusted Net Taxable Value $ 121,923,036,056

Tax Rate per $100 of Value $ 0.67730
Total Tax Levy $ 825,784,723

Less
Collection Rate 98.5 %
Estimated Collection of Levy $ 813,397,952

Less
Less Levy Lost due to Frozen $ (9,388,454)
Less Estimated TIF Contribution $ (20,777,519)
Budgeted Revenues $ 783,231,979

Sales Tax

Of the total sales and use tax paid on a purchase, Sales tax revenue from the city’s one-cent sales
the City only receives a small portion. The tax, exclusive of the half-cent special use tax for
following depicts where the sales tax is the Crime Control and Prevention District Fund, is
distributed. projected to equal $252.7 million.

As sales tax revenue was growing significantly
after COVID-19, continued strong growth was
expected for 2024. FY2024 year end projections
forecast collections falling short of the original
estimates developed for the year. Original
expectations for FY2024 were $250 million, and
the fiscal year-end projection is down $10.5
million for a total of $239.5 million at the time of
FY2025’s budget development.

The FY2025 Budget’s expectation of $252.7
million is an increase of $2.7 million or 1.1% from
the FY2024 budget. This revenue is dependent
on the level of wholesale and retail sales and the
economic strength of the local economy. Over the
past ten years, the City of Fort Worth sales tax
collections have grown from $130.3 million in
2015 to the estimated amount of $252.7 million
for FY2025, which represents a 93.9% growth
over the last ten years.

79