HomeMy WebLinkAboutIR 8498 INFORMAL REPORT TO CITY COUNCIL MEMBERS No. 8498
May 27, 2003
��►"* `�o To the Mayor and Members of the City Council
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SUBJECT: 2003 ESTIMATE OF APPRAISED PROPERTY VALUES
The Tarrant Appraisal District (TAD)has released its preliminary estimate of appraised values for the 2003
tax year (the City's 2003-04 fiscal year). This will 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$31,514,234,459 and a net taxable value of
$26,046,839,000. The net taxable value does not include the value for those properties whose values are being
protested by the property owner. TAD is still mailing value notices; therefore, many protests have yet to be
filed with the Appraisal Review Board.
Staff estimates a five percent(5%) 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 2003 property tax
levy will be based. The anticipated taxable value for FY 2003-04 is $24,788,371,000, which is 4.14%above
the adopted taxable value of$23,803,519,000.
Attached is a schedule showing comparable numbers relative to the 2001 adopted taxable values certified in
July, 2001; the 2002 adopted taxable values certified in July, 2002; and the May 2003 preliminary values.
When the 2003 certified tax roll is received in July, additional information will be presented to City Council.
Gary W. Jackso
ity Manager
Attachment
ISSUED BY THE CITY MANAGER FORT WORTH, TEXAS
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