The County rolls on into fiscal year 2025-26 with no increase in property tax rates. The property tax rate will remain the same as last year at $2.3252 per $100 assessed property value.
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The County rolls into fiscal year 2025-26 with no increase in property tax rates. The property tax rate will remain the same as last year at $2.3252 per $100 assessed property value.
The budget includes a 3-percent cost of living increase, and 1-percent step raises for county government employees, as well as modest adjustments to general operating budgets to maintain current service levels.
Some non-recurring capital improvement needs are being funded through one-time deductions from debt service reserves, both for general county government and for the school system.
“I believe this is a responsible budget,” said County Mayor Chad Graham. “I want to commend the county commission, our finance department, and our various department heads, as well as the school system and the highway department, for their good work in helping to continue providing service to the taxpayers without the need to raise tax rates.
“All of us in county government are keenly aware that we work for the taxpayers, and we work hard to make sure that we’re getting the best use out of every dollar of revenue. We do not take that responsibility lightly.”
The budget as approved does not include additional personnel requested by Bedford County Sheriff’s Office or Bedford County Fire Department, but Mayor Graham said the county will work on alternative ways to help meet those departments’ needs.
Each penny on the tax rate brings in a theoretical $140,879 in property tax revenue. After adjusting for the typical delinquency rate, that drops to $135,244.
BUDGET OVERVIEW:
General fund: $44,926,700
Highway/public works: $4,257,015 (two-thirds of funding comes from the state)
General purpose school fund: $102,653,205 (83 percent of funding comes from the state)
Debt service fund: $21,218,682
County capital projects fund: $11,205,835
PROPERTY TAX RATES: (Unchanged from 2024-25 rates)
General fund: $1.43 (per $100 assessed value)
Highway: 9 cents
General purpose schools: 62 cents
Debt service: 15 cents
Capital projects: 3.52 cents
TOTAL: $2.3252 per $100 assessed value
