Page 5 - Bedford-FY24-25 Budget

Fiscal Year 2024-2025 Budget Cover Page

Pursuant to Senate Bill 2

This budget will raise more revenue from property taxes than last year’s

budget by an amount of $1,256,902, which is a 4.99% increase from last
year’s budget. The property tax revenue to be raised from new property
added to the tax roll this year is $55,993.

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

FOR: Dan Cogan, Nichelle D. Dawkins, Amy Sabol, Rich Steves, Steve Farco, Rob Gagliardi
AGAINST: Not Applicable
PRESENT and not voting: Not Applicable
ABSENT: Joy Donovan Brandon

Tax Rate FY 2024-2025 FY 2023-2024
Property Tax Rate 0.495726 0.495726
No-New-Revenue Rate 0.484255 0.457431
NNR M&O Tax Rate 0.346388 0.339437
Voter-Approved Tax Rate 0.496317 0.495726
Debt Rate 0.137867 0.143895

The total amount of municipal debt obligation secured by property taxes for the City of Bedford
is $95,880,000.

City of Bedford, TX | Adopted Budget FY 2024-2025 Page 5