Fort Worth's upcoming Fiscal Year 2025 budget, set at $1.062 billion, will be concentrating on core city services amidst the city's growth, as city officials have outlined initiatives that include bolstering infrastructure and public safety. According to the City of Fort Worth, the City Manager David Cooke has presented a plan striving to maintain property tax rates low while incorporating a marginal increase to facilitate continued community investment and economic development.
Residents can anticipate a property tax rate adjustment to 67.73 cents per $100 assessed valuation, a subtle rise from the current 67.25 cents per $100 rate, and while this recommended rate flirts with the No New Revenue rate required by state truth-in-taxation laws, a public hearing on the tax rate will happen on September 17, in hopes of ensuring transparency and community engagement. The budget, bolstered by property and sales taxes, intent on supporting city operations ranging from police and fire services to libraries and parks, suggests an increase in the PayGo portion to 7.5 cents from 7 cents, generating an additional $9 million earmarked for essential street maintenance addressing cracks, potholes, and other critical issues which have emerged as top concerns for the residents.
On the flip side, faced with a slowdown in property value growth and a forecasted decrease in sales tax revenue, the recommended budget also proposes cuts through the elimination of vacant positions. As Fort Worth eyes a population breach into a million souls, Cooke remarked, as per the City of Fort Worth, "Fort Worth's population could surpass the 1 million mark in 2025," emphasizing the corresponding spike in service and infrastructure demands and the necessity for mindful budgeting that underpins city goals while building on existing foundations.
Among key allocations within the budget are enhanced police bike patrols for the Fort Worth Stockyards and Magnolia Avenue area, funding for the imminent Northwest Community Center opening summer of 2025, the completion of the Meadowbrook Golf Course revamp by the spring of 2025, and the inauguration of Fire Station 43 in February at Walsh Ranch, signaling a broader push for community safety and amenities. Adjustments to water rates, an increase of 3.3%, and wastewater rates, by 2.3%, mark an additional shift beginning January 2025 with stormwater rates seeing a 5% increase, together with a 12.5% rise in most Development Services department fees intended to raise $3.2 million to sustain service improvements and staff increments, as the overarching FY25 budget reaches a 7.4% jump to $2.79 billion.
