HomeMy WebLinkAboutIR 8328 INFORMAL REPORT TO CITY COUNCIL MEMBERS NO. 8328
May 22, 2001
&O`TEp,�4 To the Mayor and Members of the City Council
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SUBJECT: 2001 ESTIMATE OF APPRAISED PROPERTY VALUES
Tarrant Appraisal District (TAD) has released its preliminary estimate of appraised values for the 2001 tax
year (the City's 2001-02 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$29,242,139,926 and a net taxable value of
$23,474,127,030. 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 an 8.0% 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 2001 property tax levy will be
based. The anticipated taxable value for FY 2001-02 is $21,661,090,000, which is 10.2% above the adopted
taxable value of$19,650,107,000.
ttached is a schedule showing comparable numbers relative to the 1999 adopted taxable values certified in
Lily, 1999; the 2000 adopted taxable values certified in July, 2000; and the May 2001 preliminary values.
When the 2001 certified tax roll is received in July, additional information will be presented to City Council.
�,C�1�6./-T,,
Gary Jackson
City Manager
Attachment
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ISSUED BY THE CITY MANAGER FORT WORTH, TEXAS
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