Page 210 - Bedford-FY24-25 Budget

Sales Taxes Summary

A17,165,152 $337,728
(2.01% vs. prior year)

Sales Taxes Historical Actual vs. Budget
20M

15M

10M

5M

0
FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
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.

In November 1997, the citizens of Bedford voted to adopt an additional sales tax for the purpose of
maintenance and improvements of the street network. This additional 0.5% became effective in April of 1998
and is recorded in the Street Improvement Economic Development (SIEDC) 4B Fund.

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 | Adopted Budget FY 2024-2025 Page 210