Saturday, May. 11, 2024
Did Fort Worth ISD raise the property tax rate during 2023-24 school year?
The Fort Worth ISD school board lowered the tax rate for the 2023-24 school year.
The 2023-24 tax rate is $1.0624 per $100 of valuation. The rate for the 2022-23 school year was $1.2816.
The 2023-24 rate is the lowest property tax that Fort Worth ISD has levied since the 2007-08 school year.
Most of the cut was because the Texas Legislature compressed school district property tax rates.
Trustees cut 2 cents off the debt service rate, one of two smaller figures that form the overall school district property tax.
A law allowing homeowners to take $100,000 off their property values for school district taxes lowered bills, too.
In August 2023, Fort Worth ISD Chief Financial Officer Carmen Arrieta-Candelaria said the district may pay more interest on its $1.2 billion school building improvement program.
“In the future, we may have to increase the rate,” she said.
This fact brief is responsive to conversations such as this one.
Sources
- Fort Worth ISD Adopted Tax Rates
- Fort Worth ISD 2023-2024 Tax rate adoption presentation
- The Dallas Morning News What is Texas doing about property taxes? And will it save you money?
- Texas Legislature Online Senate Bill 2
- Texas Legislature Online House Joint Resolution 2
- Texas Education Agency Fort Worth ISD property tax rates since 2005
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