City’s recommended Fiscal Year 2025 budget passes

City's recommended Fiscal Year 2025 budget passes

Published on September 17, 2024

The Fort Worth City Council unanimously approved the Fiscal Year 2025 budget Tuesday. At the request of Mayor and Council, the FY2025 tax rate remains below the no-new-revenue rate and remains flat at 67.25 cents per $100 assessed valuation rate providing much needed tax relief to residents while still funding essential City services.

The total General Fund is $1.057 billion, a 4.3% increase from FY24. The new fiscal year begins Oct. 1. The General Fund budget will continue to support infrastructure improvements, public safety enhancements, and community development without an increase in property taxes.

• The figure is lower than the no-new-revenue and voter-approval tax rates.
• The flat tax rate provides homeowners with some property tax relief.

The full $2.79 billion FY25 budget reflects the City's commitment to responsible growth as Fort Worth prepares for a population that could soon surpass one million people. The budget increases street maintenance while maintaining City service levels in other departments.

Key Budget Highlights:

Community Safety - The budget includes $3.5 million to support the startup of a new ambulance service in 2025, as well as funds to expand police services, including new bike patrols in areas like the heavily visited Stockyards and Magnolia Avenue.

• Police and Fire departments will receive a combined $690 million.
• The Meet and Confer agreement was approved and extended, which now expires on Sept. 30, 2028.
• The CCPD budget was approved, which provides $127.5 million to keep Fort Worth safe.

Community Investment - There's a continued focus on revitalizing Fort Worth's historic neighborhoods and increased investment in assisting small businesses in partnership with local chambers of commerce. A High Impact Pilot program to reduce homelessness is also funded for a full year of continued services.

• Fort Worth Library is budgeted $29 million.
• Park and Recreation is budgeted $76.5 million.
• Northwest Community Center opens in 2025.
• Meadowbrook Golf Course reopens in spring 2025.

Infrastructure - A major focus is addressing the City's streets with an additional $10.4 million allocated for repairs. This is part of a broader effort to maintain streets, save on future reconstruction costs, and address community concerns about road conditions.

• Transportation & Public Works is budgeted $107 million.
• An additional $9 million in Pay-Go funds will be dedicated entirely to street maintenance.

Debt Obligations: The City will meet its debt service obligations of $187.9 million while managing growth and inflationary pressures. The proposed tax rate also allows Fort Worth to continue making long-term investments without burdening taxpayers.

Fees: Water rates will increase by 3.3% and wastewater rates by 2.3%. The fee ordinance, including Stormwater rates and Development Services fees, will be considered on September 24.

The FY25 budget's theme this year is "Focusing on Foundations," a goal for the City to continue the daily services and programs residents utilize.

More budget information

• What goes in to City budget decisions?
• Fort Worth's next City budget focuses on core services
• Water, wastewater rates may increase in January
• Proposed stormwater rate change aims to protect people, property
• The way the City uses 'cash' and not 'credit' to fund projects
• $10.4 million more recommended for street repairs in FY2025

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• City Council