As local towns release the budget proposals, the city of Fort Worth has reduced property taxes for residents.
The city of Fort Worth proposed its new $2.3 billion budget, which is about $83.4 million more than last year’s. Among its features is a proposal to lower the property tax rate by 2 cents as property values continue rising.
The reduction would set the property tax rate in Fort Worth at 71.25 cents per $100 valuation, meaning someone with a $200,000 home would pay $1,425 in property taxes.
However, because of rising property values, the lower tax rate will still result in a tax bill increase of about $127 for the average homeowner over 2022.
Tarrant County Appraisal District data shows county property values rose by about 13% since July last year.
“Again this year, the City’s economic outlook is positive, even as we continue to feel long-term effects of the COVID-19 pandemic,” Fort Worth City Manager David Cooke said in a statement. “We’re seeing gains in local job growth, property values, sales tax collections and new building permits. But along with Fort Worth’s impressive population growth come increased demands on City services and infrastructure.”
The proposed budget includes spending to add about 300 new positions in the city. These positions include 57 new employees in the development services department, 71 police officers– including 45 who will be on the streets in 2024– 23 new fire department jobs, and 14 additional staff members for a new library.
The largest increase in the proposed budget is for transportation and public works, which would receive nearly $18 million more than last year. The extra spending is allocated for replacing broken streetlights and fixing road markings on streets around the city.
Water rates and fees for garbage collection will remain unchanged, with Cooke saying the city understands the hardships households face due to rising costs from inflation.
One fee that would increase under the proposed budget is Fort Worth residents’ monthly environmental fee on water bills, which has remained the same since the city added it 25 years ago. The fee would go from $0.50 to $1.50, with the plan to use the extra taxpayer dollars to expand clean-up of litter and address illegal dumping locations and campsites.
The monthly environmental fee increase is also proposed for commercial, nonprofit, and industrial properties.
“We’ve kind of put the burden on residential homeowners before that needs to be spread out across commercial businesses as well to make sure they’re paying into this environmental fund,” said Mayor Mattie Parker.
The city would also use the taxpayer dollars collected from the fee increase to expand the city’s street sweeper fleet from two to 12 trucks.
“It drives me crazy to see street trash everywhere,” said Parker, “and going to 12 street sweepers again is about a clean and safe city, which I’m incredibly excited about.”
Cooke, the city manager, said he expects a push to lower residents’ tax burden further, which could result in some of the proposals in the budget being removed.
A series of public comment meetings began in mid-August and will continue until the city council votes on the budget at 10 a.m. on September 27.
