Page 5 - Bedford-FY22-23 Budget

Fiscal Year 2022-2023 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 $17,693, which is a 2.75% increase from last year’s
budget. The property tax revenue to be raised from new property added
to the tax roll this year is $73,781.

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

FOR: Michael Boyter, Nichelle D. Dawkins, Dan Cogen, Amy Sabol,
Rich Steves, Steve Farco, Rob Gagliardi
AGAINST: Not Applicable
PRESENT and not voting: Not Applicable
ABSENT: Not Applicable

Tax Rate FY 2022-2023 FY 2021-2022
Property Tax Rate 0.495726 0.552000
No-New-Revenue Rate 0.507583 0.549319
NNR M&O Tax Rate 0.356246 0.372057
Voter-Approved Tax Rate 0.495726 0.552691
Debt Rate 0.128229 0.165010

The total amount of municipal debt obligation secured by property taxes for the City of Bedford
is $67,135,000.

City of Bedford, TX | Adopted Budget FY 2023 Page 5