2.4 ECONOMIC COMPETITIVENESS GOAL: Support businesses, improve regional and global connectivity, facilitate trade and investment, promote labor mobility, and enhance prosperity.
Strengthening the Tax Base
Expanding Fort Worth’s tax base is key to boosting the city’s economic competitive- ness and supporting sustainable growth. The FY2025 budget projects a 1.58% increase in property tax revenue over last year, with $25.9 million of which comes from new properties added to the tax roll. The prop- erty tax rate remains steady at $0.6725 per $100 valuation, aligning with Fort Worth’s commitment to balance fiscal responsi -
bility with economic expansion. By broad- ening the tax base and attracting a range of business investments, Fort Worth can secure the resources needed for essen- tial improvements in infrastructure, public safety, and quality of life, positioning itself as a competitive and appealing urban center. Mixed-use development, as exemplified by Clearfork shown in Figure 02-34, plays a
strong role in expanding Fort Worth’s tax base. By blending residential, commercial, and retail spaces in a single area, mixed-use projects attract diverse investments, increase property values, and create multiple revenue streams through property, sales, and busi- ness taxes. These developments encourage walkable, vibrant communities where resi- dents and businesses are close together, supporting local spending and fostering
Figure 02-33: City of Fort Worth Fiscal Year 2024- 2025 Annual Budget Changes
Figure 02-34: Clearfork Development, Fort Worth
MOVING A MILLION | STATE OF THE SYSTEM REPORT
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