This is one of several meetings being held around the city to review the proposed $915.34 million general fund budget, which includes a 10.03% increase in spending and a $0.02 decrease in the property tax rate.
The public engagement meeting with District 7 Council Member Leonard Firestone will be at 6 p.m. Aug. 24 at Boswell High School, 5805 W. Bailey Boswell Road. City staff will be available to answer questions, according to a news release.
The city’s proposed property tax rate is $0.7125 per $100 valuation, according to a presentation at a council work session Aug. 9. That is a $0.02 reduction from the $0.7325 per $100 valuation this fiscal year, according to the presentation.
The average taxable value of a home in Fort Worth this year is $199,169, according to the Tarrant Appraisal District. That is up 13.21% from last year’s average taxable value of $175,926 in Fort Worth.
For many property owners, the city’s proposal to lower the property tax rate does not offset the increase in value seen on their home, meaning their city tax bill will likely be higher in the coming year, officials say.
A public hearing on the budget is scheduled for 6 p.m. Sept. 13 at Fort Worth City Hall, 200 Texas St.
For more information on the budget, including a schedule of future meetings, visit www.fortworthtexas.gov/2023budget.