Mid City Times

With the Fort Worth City Council aiming to maintain low property tax rates while preserving city services, a recommendation has been made to set the property tax rate at 67.73 cents per $100 assessed valuation. This proposal was presented to council members on Tuesday, August 13.

There is only one No New Revenue (NNR) rate each year, established once certified values are received and all Truth in Taxation calculations are completed. If the city does not adopt the NNR or a lower rate, it has the authority to adopt a higher Voter-Approval Tax Rate, provided public engagement requirements are met.

The recommended tax rate is lower than the NNR rate under state-required calculations established through truth-in-taxation laws. The no-new-revenue tax rate would generate the same amount of tax revenue if applied to properties taxed in both years.

Typically, the voter-approval tax rate is the highest rate a taxing entity can adopt without holding an election. These rates are calculated by dividing total taxes by current taxable value with state law adjustments. The rates are given per $100 of property value.

The NNR is set at a level where the city or any other taxing entity would raise the same revenue on properties from the previous year’s tax roll. It is independent of budgetary requirements and considers only last year's levy adjustments and current-year appraised values.

The City Council will review the budget during workshops leading up to a final vote on September 17, which will include a public hearing on the tax rate. The new fiscal year begins October 1.

The recommended operating budget is $2.79 billion, focusing on quality of life for Fort Worth residents with emphasis on economic development, community investment, safety, infrastructure, and responsible growth while maintaining current service levels across the city.

Community open houses will be held in each council district starting August 21. A full list of open houses and locations can be viewed online.

Feedback can be provided via ConnectFW using a QR code provided in related materials.