Fact Check: Did Fort Worth just pass the largest tax rate decrease in more than 30 years?
As Fort Worth property owners gear up to pay their taxes, they will be paying a rate lower than last year.
It’s the largest property tax rate reduction in 34 years, Mayor Mattie Parker said Friday at her State of the City address. It’s also the second largest decrease among the 10 largest cities in the Metroplex, according to a city of Fort Worth report.
The rate of 67.25 cents per $100 of value is 4 cents lower — largest drop since at least 1990, but it won’t lower the amount the average Fort Worth property owner pays in taxes. That’s because the average value of a single family home in Fort Worth increased 12.6%, according to data from the Tarrant Appraisal District.
The owner of an average valued single family home without a homestead exemption will pay about $114.70 more in 2024 or about $9.56 more per month.
Critics of Fort Worth’s tax rate have pointed to the example of Tarrant County, which cut taxes through a homestead exemption and lower tax rate.
However, Parker called that an “apples to oranges” comparison Friday, noting the city is responsible for the bulk of public services Fort Worth residents rely on day to day.
“We have a responsibility to the residents who live here now to keep their quality level of service in place,” she said.
This story was originally published October 6, 2023 at 5:06 PM.
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