Tarrant County commissioners voted Tuesday to approve JPS Health Network’s new tax rate and budget for the 2024 fiscal year.
JPS set its tax rate at 19.45 cents per $100 of assessed value — the first time in five years the Tarrant County Hospital District has lowered its tax rate. JPS previously lowered its rate from 22.7 cents in 2017 to 22.4 cents in 2018.
The hospital district’s board of managers previously voted to keep the tax rate at 22.4 cents per $100 of assessed value. But, on Aug. 15, the Commissioners Court unanimously overrode the JPS plan to keep the tax rate flat.
On Tuesday, commissioners voted 4-1 to lower the rate — Commissioner Alisa Simmons voted against, stating it is not fiscally responsible to cut the hospital district’s tax rate.
“JPS has large and ongoing construction projects in a high interest rate environment with escalating costs,” she said. “Some of this court will cut and cut and cut until JPS is strained to provide the absolutely crucial health care services to this community.”
No other commissioner commented on the approval.
With the new tax rate and the county’s 10% homestead exemption, a Fort Worth homeowner with an average-priced home would pay $399.48 in taxes to the county. Without the homestead exemption, that bill would jump to $443.
The new tax rate will generate about $543.36 million in net tax revenue for JPS.
Commissioners also voted unanimously to approve a JPS operating budget of $1.54 billion.
What will JPS Health Network’s $1.54 billion budget cover?
- Salaries and related expenses: 63%
- Purchased services: 16%
- Supplies: 14%
- Other operating expenses: 4%
- Depreciation: 3%
(Source | JPS Health Network)
“JPS is excited about its future and the budget approval will allow us to continue delivering high quality healthcare services to the residents of Tarrant County,” a JPS spokesperson said in an email to the Report. “We appreciate the court’s continued support of our mission.”
David Moreno is the health reporter at the Fort Worth Report. Contact him at david.moreno@fortworthreport.org or via Twitter.
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