News

Property Tax Hearing

By August 20, 2019
Downtown Fort Worth | TRWD

Contact: Chad Lorance
TRWD Communications Manager
817-720-4367 (o) 817-229-4488 (c)
chad.lorance@trwd.com

For Immediate Release

TRWD Board sets Sept. 11 property tax hearing

 

FORT WORTH, TX (August 20, 2019) – TRWD’s Board of Directors voted today to set a September 11 public hearing to gather public input on its proposed 2019 property tax rate. The hearing will be held at 3:30 p.m. in TRWD’s Administration Building, located at 800 E. Northside Drive in Fort Worth.

TRWD is proposing a 2019 ad valorem tax rate of $0.0287 cents per $100 valuation on properties located within its taxing jurisdiction. The proposed rate, which will keep TRWD’s tax the lowest in Tarrant County, is an increase of less than one cent of 2018’s rate of $0.0194/$100. This adjustment would only result in a $17.98 tax increase per year based on Fort Worth’s average home price of $193,328.

The District’s tax revenue will not be used to fund the District’s commitment to the Trinity River Vision Project, which is funded by a tax increment finance (TIF) district, or to build and maintain the District’s recreational assets.

Over the last five decades, TRWD has used a total of $322 million in oil and gas royalties to supplement its tax revenues. However, the unpredictable oil and gas markets can no longer be relied upon to offset the District’s tax funding. TRWD’s tax dollars will continue to exclusively fund the maintenance and operation of its flood control efforts.

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Lake Current Level Conservation Level* Level Difference**
Arlington 548.45 550.00 -1.55
Benbrook 683.99 694.00 -10.01
Bridgeport 831.32 836.00 -4.68
Cedar Creek 319.81 322.00 -2.19
Eagle Mountain 647.23 649.00 -1.77
Lake Worth 592.13 594.00 -1.87
Richland-Chambers 311.72 315.00 -3.28
*Conservation Level: The permitted level of water an entity is allowed to hold in a lake. Any amount above the conservation level is used for the temporary storage of flood waters and must be released downstream.
**Difference: Amount above or below conservation level.
For more information read our daily reports or the TRWD Lake Level Blog.

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