Page 120 - FY 2026-2027 Adopted Budget Book

Property Taxes

Property taxes make up the largest single revenue source for General Fund operations. The property tax rate
is made up of two segments. The first is the Maintenance and Operation (M&O) rate. This amount is dedicated
to the daily operations of the City that fall within the General Fund. Services such as Police, Fire, Parks and
Recreation, Library, Senior Center, Neighborhood Services, Finance, and General Governmental functions are
included in the General Fund. The second segment of the tax rate is the Debt Service rate. This is the tax rate
that is pledged to repay the long-term debt obligations of the City.

Property taxes are assessed on real and personal property based on the value of the property on January 1 of
each year. Property tax revenues have varied somewhat over the last several fiscal years. The proposed tax
rate for FY 2026-2027 is $0.566599 per $100 valuation. This rate is composed of a debt rate of $0.149239 and
a maintenance and operations rate of $0.417360. The FY 2025-2026 tax rate was $0.526212 per $100
valuation and was composed of a debt rate of $0.145266 and a maintenance and operations rate of
$0.380946.

The appraisal of property within the City is the responsibility of the Tarrant Appraisal District. Excluding
agricultural and open-space land, which may be taxed on the basis of productive capacity, the Appraisal
District is required under the Property Tax Code to appraise all property within the District on the basis of
100% of its market value. Taxes become due October 1 of the appraisal year and become delinquent on
February 1 of the following year.

Beginning in FY 22-23, the properties included in the Tax Increment Refinancing Zone (TIRZ) included value
increases above the base year. The property tax revenue for the additional value in those accounts is
accounted for in the TIRZ Fund.

Interest and Sinking Fund:
Interest and Sinking Fund:
Interest and Sinking Fund:
$8,385,034 (26%) $30M
$8,385,034 (26%)
$8,385,034 (26%)
$20M
TIF Fund:
TIF Fund:
TIF Fund:
$1 10,340 (0%) $10M
$110,340 (0%)
10,340 (0%)
$1
$0
eneral Fund:
G G General Fund:
FY 2024 Actual FY 2025 Actual FY 2026 Projection
eneral Fund:
$23,693,675 (74%)
$23,693,675 (74%)
$23,693,675 (74%)
Total (FY 2027 Proposed Budget) FY 2026 Amended Budget FY 2027 Proposed Budget
$32,189,049
General Fund TIF Fund Interest and Sinking Fund General Fund TIF Fund Interest and Sinking Fund
Data Updated: Sep 15, 2026, 9:54 PM View Report Data Updated: Sep 15, 2026, 9:54 PM View Report

FY 2026-2027 Adopted Budget Book · September 15, 2026 116