City Council; (4) calculation and certification of the Truth-In-Taxation worksheet (No New
Revenue Rate and Voter Approval Rate); and (5) the proposed property tax rate for the
next fiscal year is compared to the Voter Approval Rate and the No New Revenue Rate.
The three rates are required to be presented as part of the city's public notice regarding
the tax rate and public hearing.
Ms. Lewis commented that the Certified Roll was included in the Executive Summary
provided to City Council on July 28 and presented at the Budget Work Session on
August 4, 2023. Ms. Lewis stated that the Truth-In-Taxation worksheet is included as an
attachment for this item in the agenda packet. Based on the certified value of properties
in the city, the Voter Approval Rate is 49.8348 cents. The No New Revenue Tax Rate for
Tax Year 2023 is 48.9389 cents per $100 of assessed value. The Proposed Property Tax
Rate presented to the City Council and included in the current proposed budget for
Fiscal Year 2023/2024 is 49.8155 cents per $100 of assessed value. This is a reduction
of 4.9817 cents or -9% from the current adopted rate. Ms. Lewis shared that if approved,
this rate would be the lowest rate the city has adopted in 35 years. The City has adopted
a rate that has decreased as the property values in North Richland Hills have increased.
Ms. Lewis stated that state law requires the City Council set a date for the tax rate public
hearing. The notice will be posted on the city's website, published in the Fort Worth Star
Telegram, located on Tarrant Tax Info.com, posted on the city's social media platforms,
included in the city's printed and electronic newsletters, and posted on Citicable. Staff
recommends City Council set September 7 at 7:00 p.m. for the tax rate public hearing.
The public may speak at the public hearing or submit their written comments through the
city's website, direct emails to the city, or on the city's social media platforms. Staff also
recommends City Council set September 11 as the date for a vote on the adoption of the
property tax rate. Ms. Lewis provided a comparison of the 2022 adopted tax rate and the
proposed 2023 tax rate. Once the proposed rate is set, the adopted tax rate cannot
exceed the proposed rate, but it could be adopted at a lower rate.
In response to Associate Mayor Pro Tem Vaughn's questions, Ms. Lewis informed City
Council that state law (Tax Code) requires specific language in the notice of public
hearing to include a template, and requires homestead taxable values to be used in the
template. The city does not have the option to change information that is provided in the
notice. Ms. Lewis shared that as the value of property has increased, the city has
decreased the property tax rate and increased homestead exemptions.
Council and staff discussed previous property tax years; debt reduction; increase in
population (14%) and the demand on services; the addition of 27 positions over the past
10 years; number of full-time employees in the General Fund (excludes NRH20, Crime
Control Prevention District or Park and Recreation Facilities Development Fund);
information provided at the budget work session; justification for the proposed property
tax rate, zero-based budget; citizen surveys and how it relates to departmental requests;