Tax Rate

Real Property (Ad Valorem) Tax Rate

Property tax is the second-largest revenue source for the General Fund, comprising a projected 34.9% for Fiscal Year 2023–2024. Combined, property and sales taxes are projected to fund approximately 72.8% of General Fund maintenance and operations (M&O) for Fiscal Year 2023–2024.

Tarrant Appraisal District (TAD) appraises real property within the Town of Pantego. Each October, property tax statements are mailed to owners (or their mortgage companies) by the Tarrant County Tax Assessor-Collector. Upon collection, these taxes are remitted to the Town. The Town's fiscal year (FY) runs from October 1 through September 30. Every year, the Town Council adopts an annual operating budget and the supporting property tax rate, usually in late August or September, just before the FY begins. 

The ad valorem — or property — tax rate is assessed per $100.00 of assessed value. Most property in Pantego is also taxed by Tarrant County, Tarrant County Hospital District (JPS), Tarrant County College (TCC), and Arlington ISD. View the rates and exemptions for these jurisdictions (and all taxing entities in Tarrant County), look up your property account, and get information about protesting appraisals by visiting TAD. For questions concerning your tax invoice or payment deadlines, contact the Tax Assessor.

The total tax rate is comprised of two elements — "maintenance and operations" (M&O) and debt service or "interest and sinking" (I&S). The M&O portion covers daily expenses including salaries, facility maintenance, smaller infrastructure (streets, water, etc.) projects, and some larger capital purchases such as technology needs and fleet vehicles. The I&S portion covers debt payments, which are typically reserved for significant asset or infrastructure purchases or improvements with projected lifespans at least as long as the debt instrument. 

The most recent debt (Series 2023 CO) will fund the installation of reverse osmosis (RO) systems at two well sites (Lane and 303) to improve the taste of drinking water. The Pantego Economic Development Corporation (PEDC) also recently issued debt (Series 2023 Tax Notes) to finance improvements at Bicentennial Park including new playground structures and shade awnings. While debt issued by the Town is typically backed by property taxes, debt issued by the PEDC is serviced via their portion of the sales tax revenue (see "Sales Tax" below) and, therefore, has no impact on property taxes.

Property Tax Exemptions

When you apply and qualify for a homestead exemption on your principal residence, it reduces your tax bill by removing part of your home's value from taxation. Taxing units have the option to offer an additional exemption of up to 20 percent of the total value. Seventeen Tarrant municipalities offer no homestead exemption at all. However, the Town of Pantego offers the maximum optional homestead exemption of 20.0%. This is separate from the $40,000 general residence homestead exemption and is typically added to any other qualified exemptions. Homeowners who are 65 years of age or over can apply for a $50,000 exemption. The Town also offers a disability exemption of $10,000 and disabled veteran exemptions ranging from $5,000 to $12,000.

Property Tax Rate for Tax Year 2023 (Fiscal Year 2023–2024)
A public hearing on the Tax Rate was held Tuesday, August 29, 2023, at 6:30 p.m. at Town Hall. Following this hearing, the Town Council adopted the following rates during that same meeting.
Interest and Sinking (I&S) - Debt Service
$ 0.152066
Maintenance and Operations (M&O)
$ 0.417934
Tax Year 2023 Town of Pantego Adopted Property Tax Rate
$ 0.570000

Sales Tax
Sales and use taxes are collected on the sale of all tangible personal property or taxable services. The Town has a two percent (2.0%) local sales tax rate (in addition to the State's 6.25%) and is one of only three Tarrant municipalities that allocates a portion of sales tax to the reduction of property taxes. When you shop and dine in Pantego, one cent of tax revenue goes to the Town’s General Fund to support daily operations and services. The other cent is divided between PEDC projects (½ cent), the Streets Fund (¼ cent), and property tax relief (¼ cent). The Texas Comptroller of Public Accounts collects the total sales tax (8.25%) and then remits collections to the Town of Pantego quarterly after deducting an administrative fee. 

Sales tax revenue continues to climb as the retail and restaurants in our community thrive and expand. In fact, sales tax is the largest General Fund revenue source, representing 37.8% of total revenue projected in the Fiscal Year 2023–2024 (a 3.7% year-over-year increase based on conservative forecasting data).

Local and State Sales Tax Rates (per $1.00 of taxable expense)
Local Base: General Fund
1.00 %
Street Improvement Fund
0.25 %
Property Tax Relief
0.25 %
4B Economic Development (administered by PEDC)
0.50 %
State of Texas Tax Rate
6.25 %
Town of Pantego Total Sales Tax Rate
8.25 %

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