FORT WORTH, Texas — During a recent presentation to city council, City Manager David Cooke recommended reducing Fort Worth’s property tax rate by 1.5 cents, from 74.75 cents per $100 valuation to 73.25 cents. The city’s property tax rate has steadily declined since 2016.

What You Need To Know

  • City manager David Cooke announced the city's 2022 budget

  • Cooke recommended the city cut its property tax by 1.5 cents

  • Total net taxable values used to determine revenues for fiscal year 2022 have increased to $87.3 billion, which includes a 5.3% increase in taxable value and a 4.1% increase in new construction value

  • Cooke sketched out a five-year plan that would add $1.96 billion in capital improvements through fiscal year 2026

With bond elections for the city and school board looming, David Cooke outlined the rest of the city’s budget for 2022. The recommended tax rate would allow increased investment for infrastructure and maintenance, achieve 2018 Bond Program goals and create increased cash revenues for infrastructure maintenance.

It would also continue the Neighborhood Improvement Program, place an equity focus on infrastructure maintenance and establish an annual allocation for economic development incentives laid out in the Economic Development Strategic Plan.

Total net taxable values used to determine revenues for fiscal year 2022 have increased to $87.3 billion, which includes a 5.3% increase in taxable value and a 4.1% increase in new construction value.

The city’s five-year capital plan, Cooke added, is aimed at replacing and improving aging infrastructure for one of the fastest-growing large cities in the nation. Fort Worth adds as many as 20,000 new residents each year and is now ranked No. 12 in population among U.S. cities.

Cooke sketched out a five-year plan to add $1.96 billion in capital improvements through fiscal year 2026.

The city’s manager also proposed a $4.4 million increase in PayGo (pay as you go) funding for the coming fiscal year. Among the projects slated for PayGo funding are street maintenance, sidewalks, street lighting in majority-minority areas, transit initiatives and the Neighborhood Improvement Strategy.

Residents will have several opportunities to review the proposed city budget for fiscal year 2022 and to provide feedback in the coming weeks:

  • Aug. 24, 7 p.m., City Hall, Council Chamber. First public hearing on the city budget, to be held during the regularly scheduled City Council meeting.
  • Sept. 14, 7 p.m., City Hall, Council Chamber. Second public hearing on the city budget; public hearing on the tax rate; and approve proposed fee changes.
  • Sept. 21, 3 p.m., City Hall, Council Chamber. Recommended operating and capital budget adoption; recommended adoption of tax rate.

In addition to these opportunities, a series of summer open houses will provide information on the budget process and other topics:

Residents can also give their feedback online.