HomeMy WebLinkAboutIR 8194 -
FINFORMAL REPORT TO CITY COUNCIL MEMBERS No. 8194
To the Mayor and Members of the City Council May 18, 1999
CX Subject:
1873 1999 ESTIMATE OF APPRAISED PROPERTY VALUES
Tarrant Appraisal District (TAD) has released its preliminary estimate of appraised values
for the 1999 tax year (the City's 1999-00 fiscal year). This wfll be the only information
available to the City prior to receipt of the Certified Tax Roll scheduled for release by
TAD on July 25.
The preliminary estimate reflects a total appraised value of$22,245,747,195 and a net
taxable value of $18,052,948,349. The net taxable value does not include the value for
those properties whose values are being protested by the property owner. TAD is sti.11
mailing value notices; therefore, many protests have yet to be ffled with the Appraisal
Review Board.
Staff estimates a 3.0% reduction to preliminary estimates prior to the certified values
being released in July. This factor has been used to forecast the appraised values upon
which the 1999 property tax levy will be based. The anticipated taxable value for FY
1999-00 is $17,541,480,000, which is 5.28% above the current taxable value of
Attached is a schedule showing comparable numbers relative to the 1998 preliminary
values, the 1998 certified values, the current amended 1998 values and the preliminary
1999 values.
When the 1999 certified tax roll is received in July,additional information will be
presented to City Council.
a 4-11 -
Bob Terrell
City Manager
Attachment
ISSUED BY THE CITY MANAGER FORT WORTH,TEXAS
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