HomeMy WebLinkAboutIR 0729INFORMAL REPORT TO CITY COUNCIL MEMBERS No. 23-0729
August 8, 2023
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SUBJECT: TRUTH IN TAXATION: SUBMISSION OF 2023 CERTIFIED
APPRAISAL ROLL AND CERTIFIED COLLECTION RATE
The purpose of this informal report is to submit the 2023 Certified Appraisal Roll and the certified
collection rate, as defined in Chapter 26 of the Texas Tax Code.
Pursuant to the Texas Tax Code, by July 25 or as soon as practicable thereafter, the Chief
Appraiser shall prepare and certify to the assessor for each taxing unit participating in the district
that part of the appraisal roll for the district that lists the property taxable by the unit.
On or before July 25, 2023, the chief appraisers of Tarrant County, Denton County, Parker County
and Wise County prepared and certified the appraisal roll for the City of Fort Worth. Incorporated
property within Johnson County is not taxable. Below is a table showing the combined total
appraised, certified net taxable, and estimated net taxable values for Fort Worth properties in
Tarrant, Denton, Parker and Wise counties.
Value 2022 2023 Increase % Increase
Total Appraised $ 133,177,031,015 $ 155,936,572,617 $ 22,759,541,602 17.1%
Certified Net Taxable $ 95,128,870,337 $ 111,039,849,195 $ 15,910,978,858 16.7%
Estimated Net Taxable $ 100,073,539,805 $ 115,730,642,125 $ 15,657,102,320 15.6%
The total taxable value, also known as estimated net taxable value, is included because certified
values do not reflect appraisals that are incomplete or pending protest. Staff uses prior year actual
data and adjusts the Certified Net Taxable Value to reflect the projected impact of the incompletes
and pending protests to provide a more complete estimate of final values and projected revenues.
The FY2024 City Manager's recommended budget is based on an estimated final net taxable value
of $115,730,642,125, which includes $3,235,560,201 of estimated net taxable value of new
property.
On July 20, 2023, the Tarrant County Tax Assessor/Collector's office certified the anticipated
collection rate for the City of Fort Worth for tax year 2023 at 100%. This rate is used for truth -in -
taxation calculations. This is required under Texas Tax Code Section 26.04.
If you have any questions, please contact Ashley Clement, Assistant Finance Director of FWLab,
at (817) 392-8505.
David Cooke
City Manager
ISSUED BY THE CITY MANAGER FORT WORTH, TEXAS