HomeMy WebLinkAboutResolution 5630-09-2022 A Resolution
NO. 5630-09-2022
RATIFYING THE PROPERTY TAX REVENUE INCREASE REFLECTED IN THE
FISCAL YEAR 2023 BUDGET,IN ACCORDANCE WITH SECTION 102.007(c) OF
THE TEXAS LOCAL GOVERNMENT CODE
WHEREAS,pursuant to Texas Local Government Code Section 102.007(c)the adoption
of a budget that will require raising more revenue from property taxes than in the previous year
requires a separate vote of the governing body to ratify the increased property tax revenues
reflected in the budget; and
WHEREAS,the Fiscal Year 2023 budget will raise more revenue from property taxes than
the previous year because, despite a decrease in the actual property tax rate of$0.7325 per $100
value in Fiscal Year 2022 to $0.7125 per $100 value in Fiscal Year 2023, the revenue from the
assessment of property taxes will create more revenue than last year due to increases in appraised
values on pre-existing improvements and to new improvements placed on the tax rolls.
NOW,THEREFORE,BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF FORT WORTH, TEXAS:
That, the City Council of Fort Worth hereby ratifies the property tax revenue increase
reflected in the Fiscal Year 2023 budget.
Adopted this 27t'day of September, 2022.
ATTEST:
414 e ktt j=KQX QX (2)
J nette S. Goodall,City Secretary