Page 227 - Bedford-FY23-24 Budget

Sales Taxes Summary

B16,827,424 $16,827,424
(100.00% vs. prior year)

Sales Taxes Proposed and Historical Budget vs. Actual

$20M

$15M

$10M

$5M

$0
FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024
Actual Budgeted

Sales tax is collected by the State from the sale of goods and services. The General Fund receives 1% of each
dollar taxed within the City. In January of 1995, the citizens of Bedford voted to adopt an additional sales and
use tax within the City to reduce the property tax. This additional 0.5% became effective in October of 1995.
Budget amounts are determined by staff following a review of the monthly reports and evaluating a rolling
average. Staff also takes into account local economic conditions when determining a reasonable budget
amount.

City of Bedford, TX | Proposed Budget FY 2023-2024 Page 227