Page 224 - Bedford-FY25-26 Budget

Sales Taxes Summary

B17,018,340 -$146,812
(-0.86% vs. prior year)

Sales Taxes Proposed and Historical Budget vs. Actual

$20M

$15M

$10M

$5M

$0
FY2023 FY2024 FY2025 FY2026
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 | Proposed Budget FY 2025-2026 Page 224