Page 415 - City of Bedford FY21 Budget
P. 415
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 0.304365 N/A $65,000 Yes
Euless 0.462500 20% $35,000 Yes
Grapevine 0.282601 20% $75,000 No
Haltom City 0.665760 10% $50,000 Yes
Hurst 0.625159 20% $35,000 Yes
Keller 0.395000 14% $40,000 Yes
N. Richland Hills 0.575700 15% $36,000 Yes
AVERAGE TAX RATE IMPACT
FY 19-20* FY 20-21*
Tax Rate 0.569000 0.569000
Average Home Value = $220,040 $227,410
Annual Tax Bill: $1,252.03 $1,293.96
Monthly: $104.34 $107.83
Average Home Value = $220,040 $227,410
Less: Over 65 Exemption: $50,000 $50,000
Net Taxable Value: $170,040 $177,410
Annual Tax Bill**: $967.53 $1,009.46
Monthly: $80.63 $84.12
* 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 2020-2021 Debt
Service
$419.27
Maintenance &
Operations
$874.69
Tax Bill for Average Home with
Senior Exemption
FY 2020-2021 Debt
Service
$327.09
Maintenance
& Operations
$682.38
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