Why is this important?
The city’s tax base is the total value of appraised property within the city limits of Fort Worth. This indicator provides insight into the percentage of the appraised value that relates to commercial versus residential properties. As many cities do, the City of Fort Worth relies on property taxes to fund local government services, such as police, fire, parks, libraries, transportation and code enforcement. Municipalities across the United States have been analyzing this ratio of residential to commercial values to assist in determining where the burden of property taxes exist.
While the percentages may have fluctuated by minimal amounts over the past three years, the 2015 city’s tax base stands at 39 percent in commercial value and 60 percent in residential. The city’s goal is that 60 percent of our total appraised value will be commercial, thus providing an equitable split of property taxes between the residential and commercial properties. While the city continues to study this metric, actions are being taken to understand the valuation process of commercial properties and how the city can improve commercial development and corridors throughout our city limits.