1.5 cent property tax decrease included in Fort Worth's 2022 $1.8 billion budget
FORT WORTH, Texas - The Fort Worth City Council approved a $1.8 billion budget for the city next year, along with a larger tax rate reduction of 1.5 cents.
This comes after tax revenue was up 7% year-to-year from the increase in property values.
"For a sixth consecutive year, the city’s economic outlook is positive," City Manager David Cooke said after his budget proposal. "Even while striving to overcome the effects of the pandemic, we have seen improvements in local job growth and sales tax collections, increases in residential and commercial property values, and unexpected growth in new building permits.
Next year’s budget includes money for two police recruiting classes and staffing at the new city hall location in the old Pier One building.
There is also money budgeted for 10 additional firefighters to help reduce response times.
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