Mid City Times

As government officials attempt to calculate the negative economic effects of the COVID-19 crisis, property tax estimations may be the first area of relief.

According to Community Impact, estimates from the Tarrant Appraisal District and Denton Central Appraisal District indicate a period of property value growth for 2020 in both market value and taxable values. The estimates target both real estate and manufactured homes in Keller, Roanoke and Fort Worth.

Aaron Rector, who is the director of finance for the City of Keller, says other cities are reporting the same conclusion.

“From what I have generally heard from other cities, that’s in line with what they are saying,” Rector told Community Impact. “The kicker is we do not have as much commercial value as other cities. That becomes important.”

Presently, the property tax rates for Fort Worth residents are $0.7475. Moreover, the City of Roanoke is reporting rates of $0.37512. According to Community Impact, taxable values increased to $81.2 billion in Fort Worth, $6.5 billion in Keller, and $1.9 billion in Roanoke so far this year.

“We budget conservatively, so we're not anticipating more budgeting because of a significant increase,” Rector told Community Impact. “As long as we can capture the new value portion of the taxes, we should be able to continue to craft a budget that helps provide some tax mitigation.”