Government
BY CODY THORN
Fort Worth plans tax cuts, fee hikes in proposed $4.4B budget
City tax rates and budget
The proposed fiscal year 2025-26 budget for Fort Worth will focus on preparing for the city’s growth while lowering tax rates for residents. The overview The operating budget is $3.09 billion , an increase of 10.93% compared to the fiscal year 2024-25 budget, City Manager Jay Chapa said. The total budget, including capital improvement projections worth $1.39 billion , brings the total to $4.48 billion , according to the presentation. The details Christianne Simmons, chief transformation officer for the Fort Worth Lab, an initiative to help the city with its organizational processes, provided a deep dive into the budget. The recommended tax rate for FY 2025-26 is $0.67, a reduction of $0.25 cents from the current tax rate of $0.6725. Out of the $0.67, $0.5225 is
allocated to the operations and maintenance fund and $0.1475 is allocated to debt. At the recommended tax rate of $0.67, the city’s property tax revenue would increase by over $39 million to $817 million. Chapa said a typical household would pay $20 less per year in city property taxes from the proposed tax rate. A typical household would pay $4.74 more per month in fees for solid waste, envi- ronmental, stormwater and wastewater services. The proposed fee structures are based on market studies, cost recovery, service additions, long-term planning and sustainability, according to the presentation. What’s next Public hearings on the tax rate and recom- mended budget will take place during a Sept. 16 council meeting.
$0 0.2 0.4 0.6 0.8
Fiscal year
$31.9M $16.9M
Capital improvements General fund Enterprise Special revenue Debt service Internal services Fiduciary Special revenue projects Gas lease
$4M
$282M
$373M
$1.3B
$463M
$872M
$1.1B
SOURCE: CITY OF FORT WORTH/COMMUNITY IMPACT
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