Fort Worth officials are working with a revised budget shortfall of nearly $77 million for the next budget year, a figure that is about $27 million above the estimate discussed in June.
The Tarrant Appraisal District presented the updated numbers to the City Council on Tuesday. District 8 Councilman Chris Nettles said the budget process will be difficult, adding, "We knew this going into this budget cycle that would be different, going from $50 million to about $77 million in the deficit."
Fort Worth LAB Assistant Director Brady Kirk attributed the larger gap to property values that were well below earlier expectations. Kirk said more property owners are challenging appraisals, both on their own and through agents assisting with protests.
Nettles said property owners have the right to dispute their tax appraisals, while noting that those challenges can affect the amount of money the city receives. Tarrant County properties were last reappraised in 2024 and are not set for another reappraisal until next year. Dallas County reappraises homes each year.
City leaders will consider options that include raising the property tax rate, now 67 cents per $100 of valuation, and reducing city services, Nettles said. He also said Fort Worth has reduced its tax rate for the past four or five years.
