Fort Worth Approves $1.8B Budget To Lower Property Tax Rate, Improve Infrastructure
FORT WORTH (CBSDFW.COM) - The city of Fort Worth has approved a $1.8 billion budget that will be used to lower the property tax rate, improve infrastructure and create more city jobs.
The city council made the approval on Tuesday after a 5-3 vote.
According to the plan, the property tax rate will be lowered by 3.75 cents, which means the current rate will drop from 78.5 cents per $100 valuation to 74.75 cents.
The city will also use the money to fix aging infrastructure such as streets and to improve neighborhoods. The city said it will create a Diversity and Inclusion Department in order to determine how the budget is used on infrastructure based on equity.
About 114 city jobs are expected to be created through the new budget, including positions with the police department and a new animal shelter.