The Tarrant County Commissioners Court was presented with a balanced budget proposal this morning, which would maintain the current tax rate. The total proposed budget is $476.2 million with a tax rate of 26.4 cents per $100 valuation. Tarrant County taxes on a home with a value of $100,000 would be $264. The proposed tax rate is below the effective and roll-back tax rates.
The General Fund budget adds only 3 positions related to expiring grants. Six positions would be eliminated. Merit increases are not being recommended for employees. Instead employees would receive a lump sum payment of 3 percent. This one-time payment would not impact base salaries or impact operating expenses in FY 2012.
While no tax increase is included in the proposed budget, it was necessary to use almost $4 million in the County's cash carry forward to balance the budget. The cash carry forward is made up of unexpected revenues and/or from incurring less expenditures than anticipated.
Compared with the other five large urban counties (Travis, El Paso, Harris, Bexar and Dallas) Tarrant's tax rate is the second lowest.
Budget work sessions will begin Monday August 16. The Commissioners Court is scheduled to adopt the budget and set the tax rate on September 14.
