|Proposed Tax Rate||$0.495726 per $100|
|No-New Revenue Tax Rate||$0.457431 per $100|
|Voter-Approval Tax Rate||$0.495726 per $100|
The no-new-revenue tax rate is the tax rate for the 2023 tax year that will raise the same amount of property tax revenue for the City of Bedford from the same properties in both the 2022 tax year and the 2023 tax year.
The voter-approval tax rate is the highest tax rate that the City of Bedford may adopt without holding an election to seek voter approval of the rate.
The proposed tax rate is greater than the no-new-revenue tax rate. This means that the City of Bedford is proposing to increase property taxes for the 2023 tax year.
A public meeting to vote on the proposed tax rate will be held on Tuesday, September 12, 2023 at 6 p.m. at Bedford City Hall, 2000 Forest Ridge Dr.
The proposed tax rate is not greater than the voter-approval tax rate. As a result, the City of Bedford is not required to hold an election at which voters may accept or reject the proposed tax rate. However, you may express your support for or opposition to the proposed tax rate by contacting the members of the City Council of the City of Bedford at their offices or by attending the public meeting mentioned above.
YOUR TAXES OWED UNDER ANY OF THE TAX RATES MENTIONED ABOVE CAN BE CALCULATED AS FOLLOWS:
Property tax amount = (tax rate) x (taxable value of your property) / 100
The members of the governing body voted on the proposal of the tax rate as follows:
- FOR the proposal: Michael Boyter, Nichelle D. Dawkins, Dan Cogan, Amy Sabol, Rich Steves, Steve Farco, Rob Gagliardi
- AGAINST the proposal: Not Applicable
- PRESENT and not voting: Not Applicable
- ABSENT: Not Applicable
The 86th Texas Legislature modified the manner in which the voter-approval tax rate is calculated to limit the rate of growth of property taxes in the state.
The following table compares the taxes imposed on the average residence homestead by the City of Bedford last year to the taxes proposed to be imposed on the average residence homestead by the City of Bedford this year:
|Total Tax Rate (per $100 of value)||$0.495726||$0.495726||No change|
|Average Homestead Taxable Value||$265,968||$299,336||increase of 12.55%|
|Tax on Average Homestead||$1,318.47||$1,483.89||increase of $165.41, or 12.55%|
|Total Tax Levy on all Properties||$22,831,430||$25,162,761.49||increase of $1,956,263, or 8.43%|
For assistance with tax calculations, please contact the tax assessor for the City of Bedford by email or 817-884-1100, or visit www.tarrantcounty.com for more information.