City of Fort Worth, Texas FY2020 Adopted Annual Budget and Program Objectives
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The City of Fort Worth adopted its FY2020 budget with a property tax revenue increase of $46,738,049 (8.8 percent) from the previous year, with $16,224,902 derived from newly added property. The municipal property tax rate was lowered from $0.785000 to $0.747500, while total outstanding municipal debt obligations secured by property taxes totaled $827,991,475. The city council voted 5-3 in favor of budget adoption, with one member absent.
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The City of Fort Worth adopted its Fiscal Year 2024-2025 Annual Budget, which increases property tax revenue by $11,601,369 (1.58 percent) compared to the previous year, with an additional $25,987,428 expected from newly added properties. The City Council unanimously approved the budget with all 11 members voting in favor. The municipal property tax rate remains unchanged at $0.672500, while the total outstanding municipal debt obligations secured by property taxes stands at $1,335,366,771.
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