Fort Worth’s looming 2027 budget gap just ballooned from a painful problem into a full-blown scramble, with city staff now projecting a $77 million shortfall. The reset comes after certified property values grew far less than officials expected, leaving council members to choose between deeper cuts, a higher tax rate or a heavier draw on city reserves.
The city received certified tax rolls from Tarrant, Denton, Parker and Wise counties after earlier projections assumed 2% to 3% growth. Instead, values increased about 0.89%, according to the Fort Worth Report, which first reported the revised budget outlook.
Property values missed the budget’s growth target
The certified rolls put Fort Worth’s total property valuation at roughly $130.2 billion, while existing residential values declined and commercial property and new construction provided much of the growth. That matters because property taxes make up about 57% of the city’s general fund revenue, making even a modest miss difficult to absorb.
City staff now project about $627.5 million in property-tax revenue for the current fiscal year, or $13.86 million below budget. The general fund is also expected to bring in $9.39 million less revenue than planned, while expenses are projected at about $1.117 billion…