Page 5 - Bedford-FY23-24 Budget

Fiscal Year 2023-2024 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 $1,956,263, which is a 8.43% increase from last
year’s budget. The property tax revenue to be raised from new property
added to the tax roll this year is $13,509.

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 2023-2024 FY 2022-2023
Property Tax Rate 0.495726 0.495726
No-New-Revenue Rate 0.457431 0.507583
NNR M&O Tax Rate 0.339437 0.356246
Voter-Approved Tax Rate 0.495726 0.495726
Debt Rate 0.143895 0.128229

The total amount of municipal debt obligation secured by property taxes for the City of Bedford
is $82,300,000.

City of Bedford, TX | Proposed Budget FY 2023-2024 Page 5