After the “sticker shock” many residential homeowners and commercial property owners experienced last year with their property tax appraised values, there was a sliver of good news. Or possible good news.
In her annual State of the City address, Fort Worth Mayor Betsy Price said, she hopes the city can lower its property tax rate again this year. Two cents were taken off last year, and she hopes they can shave off another two cents this year. While Fort Worth still has one of the highest property tax rates in Tarrant County, any reduction is welcome.
However, with a sizzling housing market, numerous construction projects, and the relocation of companies from across the country, we believe appraised property values could rise again this year. So even with a slight reduction in the city’s rate, Fort Worth property owners could see bigger tax bills again this year.
The statutory deadline to protest your 2017 appraised value is May 31st.