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INFORMAL REPORT TO CITY COUNCIL MEMBERS No
"AQTIA
?14 To the Mayor and Members of the City Council May 30, 1989
X Subject:
1071) 1989 ESTIMATE OF APPRAISED PROPERTY VALUES
In accordance with the Texas Property Tax Code, the Chief Appraiser of
Tarrant Appraisal District (TAD) has submitted the attached 1989 Preliminary
Valuation Summary. This will be the only information available to the City
prior to the certified Tax Roll scheduled for release by TAD on July 25th.
The Summary reflects a Total Appraised Value of $17,754,655,488 and a Net
Taxable Value (after exemptions) of $15,432,259,430. Excluded from this
number is the $28,378,541 in net value for those properties whose values
have already been protested. At least the minimum value, $19,730,265, of
these properties should be recaptured after all Appraisal Review Board
hearings are completed. Historically there has been an average shrinkage of
3% between the preliminary values and the certified values. Applying this
factor to the new preliminary numbers and assuming the eventual addition of
the minimum protested values results in a value of $14,989,021,000. This is
the number being recommended for preparation of the 1989-90 annual budget.
In addition to the $249,015,210 new construction included in the Net Taxable
Value, changes in value from 1988 consist primarily of those occurring in
Personal Property as there has been no major reappraisal of Real Property
for the 1989 tax year.
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Also attached, for your information, is a schedule showing comparable'
numbers of the 1988 Preliminary Valuation Summary, the 1988 Certified Tax
Roll and the current amended 1988 Tax Roll.
When the 1989 Certified Tax Roll is received in July, additional information
will be prepared for the City Council.
ouglas Harman
City Manager
ISSUED BY THE CITY MANAGER FORT WORTH, TEXAS