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This informal report is to inform the City Council of the Effective and Rollback Tax Rates for use
in their upcoming budget discussions regarding Fiscal Year 2010. The rollback tax rate serves as
• cap on property tax rates, thus limiting taxing units' ability to make material increases over the
prior year's rate.
Pursuant to Texas Property Tax Code Section 26.04.c, the Effective Tax Rate =
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Property tax rates are comprised of two separate rates, Maintenance & Operation (M&O) a
Interest & Sinking (I&S or the debt service component). i
The 2009 Effective Tax Rate is $.892244 / $100 assessed valuation
The 2009 Rollback Tax Rate is $.94167 / $100 assessed valuation
(Rollback M&O rate of $.79757 + I&S rate of $.1441)
r'he 2008 Adopted Tax Rate is currently $.8550 / $100 assessed valuation
(Adopted M&O rate of $.7109 + I&S rate of $.1441)
If the City Council adopts a total tax rate that exceeds the rollback rate, taxpayers may petition for
a rollback election by gathering signatures from at least seven percent (7%) of the registered
voters shown on the most recent official voter list. If the rollback election succeeds, the City
would be forced to adopt the rollback rate.
This year, the City is not subject to a rollback election at the current tax rate of $.8550 / $100
assessed valuation because it does not exceed the rollback tax rate of $.9531 / $100 assessed
value.
if you have any questions, please contact- James Mauldin, City Treasurer, at (817) 392-24318.
V
[We A., Fissell,
City Manager
ISSUED BY THE CITY MANAGER FORT WORTH, TEXAS