Property taxes provide one of the largest sources of revenue for the City and determining the tax rate is a significant component of the annual budget process. Therefore, discussion of the General Fund cannot be separated from discussion of the tax rate and associated revenue.
ANALYSIS OF PROPERTY VALUATIONS & TAX RATE PROPERTY VALUATION The Kaufman County Appraisal District (KCAD) establishes and certifies the value of each property within the City of Forney and provides this information to both the city and the County Tax Assessor’s Office. The total certified value for Fiscal Year 2022 (Tax Year 2021) is $2,654,551,468. This is an increase of $447,768,539 or 20.2%.
However, the Kaufman Country Debt Service Total Taxes Assessed Appraisal District does not adjust the Tax Year Assessed Valuation Total Tax Rate M&O Tax Rate Tax Rate 2011 885,199,481 0.743098 0.323198 0.419900 6,577,900 certified taxable value for the Tax 2012 890,258,563 0.749020 0.316925 0.432095 6,668,215 967,431,252 0.749020 0.316925 0.432095 7,246,254 Increment Reinvestment Zone (TIRZ). In 2013 2014 1,047,122,752 0.723486 0.333638 0.389848 7,575,787 order to provide an accurate revenue 2015 1,149,202,404 0.698483 0.350398 0.348085 8,026,984 1,277,357,216 0.651111 0.338445 0.312666 8,317,017 estimate, the City subtracts 85% of the 2016 2017 1,455,653,995 0.621111 0.358330 0.262781 9,041,227 value of the properties included in the 2018 1,658,547,850 0.621111 0.393237 0.227874 10,301,423 1,935,983,668 0.580000 0.386125 0.193875 10,197,205 TIRZ. Total TIRZ value for Fiscal Year 2022 2019 2020 2,206,782,929 0.538710 0.378201 0.160509 10,808,187 is $391,498,933 and 85% of that equals 2021 2,654,551,468 0.501069 0.356015 0.145054 11,633,710 $332,774,093. Therefore, property tax revenue estimates are based on a value of $2,321,777,375. This is an increase of $295,201,035 or 14.56% from the previous year’s adjusted taxable value.
TAX RATE The total tax rate is made up of two portions: Maintenance & Operations (M&O) and Debt Service. Fiscal Year 2022 Proposed Budget
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