Page 25 - City of Bedford FY20 Approved Budget

CITY OF BEDFORD, TEXAS

FISCAL YEAR 2019-2020

BUDGET COVER PAGE
Pursuant to Senate Bill 656

This budget will raise more revenue from property taxes than
last year’s budget by an amount of $2,341,314, which is a 10.5%

increase from last year’s budget. The property tax revenue to be
raised from new property added to the tax roll this year is

$159,541.

City Council Record Vote
The members of the governing body voted on the adoption of the budget as
follows:

FOR: Rusty Sartor, Dan Cogen, Amy Sabol, Michael
Boyter, Ruth Culver, Roger Fisher
AGAINST: Not Applicable
PRESENT and not voting: Not Applicable
ABSENT: Jim Griffin

Tax Rate FY 2019-2020 FY 2018-2019
Property Tax Rate 0.569000 0.561862
Effective Rate 0.524732 0.480451
Effective M&O Tax Rate 0.396596 0.389903
Rollback Tax Rate 0.543844 0.561862
Debt Rate 0.191591 0.217727

The total amount of municipal debt obligation secured by property taxes for the
City of Bedford is $80,900,000.

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