HomeMy WebLinkAboutIR 24-1877INFORMAL REPORT TO CITY COUNCIL MEMBERS
No. 24-1877
To the Mayor and Members of the City Council August 13, 2024
Page 1 of 1
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SUBJECT: TRUTH IN TAXATION: SUBMISSION OF 2024 CERTIFIED
VA APPRAISAL ROLL AND CERTIFIED COLLECTION RATE
The purpose of this informal report is to submit the 2024 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, 2024, the chief appraisers of Tarrant, Denton, Parker, and Wise County
Appraisal Districts prepared and certified the appraisal rolls for the City of Fort Worth. 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
2023
2024
Increase
% Increase
Total Appraised
$ 155,936,572,617
$ 165,700,461,389
$ 9,763,888,772
6.3%
Certified Net Taxable
$ 111,039,849,195
$ 117,353,239,390
$ 6,313,390,195
5.7%
Estimated Net Taxable
$ 115,730,642,125
$ 121,923,036,056
$ 6,192,393,932
5.4%
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 incomplete
properties and pending protests to provide a more complete estimate of final values and projected
revenues. The FY2025 City Manager's recommended budget is based on an estimated final net
taxable value of $121,923,036,056, which includes $3,582,741,158 of estimated net taxable value
of new property.
Because of a large value in the incomplete category on Tarrant Appraisal District's (TAD) certified
roll, TAD provided additional value estimates the following week when the appraisal of key accounts
was complete. Those updated estimates are reflected above, including in the Total Appraised and
Certified Net Taxable categories.
On July 12, 2024, the Tarrant County Tax Assessor/Collector's office certified the anticipated
collection rate for the City of Fort Worth for tax year 2024 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 Christianne Simmons, Chief Transformation Officer of
FWLab, at (817) 392-6222.
David Cooke
City Manager
ISSUED BY THE CITY MANAGER
FORT WORTH, TEXAS