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Wednesday, October 5, 2022

Arlington plans a tax rate cut while Tarrant County keeps current rate

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The City of Arlington is planning cut its current rate by 1.7% while Tarrant County is not increasing its tax rate.? {{more: continue ?}}
If you are an Arlington home owner in our readership area, you are still likely to see an increase (if you didn?t appeal and win your appraisal), because your home appreciated in value from the year before.
Of course that is the downside to seeing your home as an investment ? you love to see your investment increase in value but it does mean the taxes increase too.
Taxing entities have to calculate what tax rate would give them the same amount of money to operate as the previous rate did.? This is the effective rate but the proposed rate is one that geives them enough funds to cover projected new costs and projects.
Arlington is looking at a tax rate 62.4 cents down by a little over a penny from last year. This rate is still expected to raise more money than last year because property values in Arlington have risen 10% in the past year. The Council is looking to fund a proposed $535 million budget for next year.
The new budget will include funds for K9 staffing, first responder training, 40 new city employees including 12 additional police sergeants, 8 police officers, opening new recreation centers, roadway improvements.
Arlington is holding a public hearing on August 20, again on September 5 followed by public hearing on the proposed budget. The meetings are set for 6:30 p.m. in the Arlington City Council Chambers at 101 W Abrams Street.
Find out more @ Arlington City Council
County plans to keep rate …
Tarrant County is proposing the same tax rate as last year of 23.4 cents. The effective rate is calculated as 21.8 cents which would raise the same amount of money as last year but would mean freezing expenditures for the coming year.
The Commissioners Court will hold two public hearings August 20 and September 3 with an adoption set for September 10. Meetings are held at the Tarrant County Administration Building, 100 E. Weatherford Street, Suite 502A, Fort Worth, Texas 76196.

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