Page 432 - City of Bedford FY20 Approved Budget

TAX RATE EXEMPTION COMPARISON

Current Tax Homestead Senior Citizen Tax Ceiling for
City Rate Exemption Exemption Over 65
Bedford 0.569000 N/A $50,000 Yes
Colleyville 0.306807 N/A $65,000 Yes
Euless 0.462500 20% $35,000 Yes
Grapevine 0.284271 20% $60,000 No
Haltom City 0.665760 10% $50,000 Yes
Hurst 0.597299 20% $35,000 Yes
Keller 0.399900 12% $40,000 Yes
N. Richland Hills 0.572000 15% $36,000 Yes

AVERAGE TAX RATE IMPACT
FY 18-19* FY 19-20*
Tax Rate 0.561862 0.569000

Average Home Value = $203,194 $220,040

Annual Tax Bill: $1,141.67 $1,252.03
Monthly: $95.14 $104.34

Average Home Value = $203,194 $220,040
Less: Over 65 Exemption: $50,000 $50,000
Net Taxable Value: $153,194 $170,040

Annual Tax Bill**: $860.74 $967.53
Monthly: $71.73 $80.63

* Average Home Value as provided by Tarrant Appraisal District as of July each
year.
** Annual Tax Bill for a newly qualified exemption.

Tax Bill for Average Home
FY 2019-2020 Debt
Service
$421.58

Maintenance &
Operations
$830.45

Tax Bill for Average Home with
Senior Exemption Debt
FY 2019-2020 Service
$325.78

Maintenance
& Operations
$641.75

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