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TAX IMPACT
An approved general obligation bond referendum would have a tax impact of up to $2.70 per year on every $1,000 of taxable property value (not assessed value). This rate could potentially decrease by adjusting other levies and allocating some funds provided by the district's voted Physical Plant & Equipment (PPEL).
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For a home with an assessed value of $250,000, this would amount to an additional $25.59 per month (or $307.07 annually).
Calculating the tax impact can be a little complicated due to the state rollback and Homestead Credit. Below is a five-step process to provide some clarification:
​The first $150,000 of commercial property valuation will receive the same residential rollback of 47.4316%. Additional value beyond that amount receives a commercial rollback of 90%. This means the annual tax impact for a $300,000 commercial property would be $556.60.
The monthly impact on agricultural property, based upon the Taylor County average assessed value of $1,220 per acre, would be 20¢ per acre. The per-acre impact in Ringgold County ($839) would be 14¢, and in Page County ($1,554) 26¢.​
PROPERTY TAX CALCULATOR
Over the past 15 years, Bedford CSD’s cumulative property tax rate peaked in FY 2018 at $13.58 per $1,000 of taxable value. Since then, the board has steadily reduced the rate to $10.93 for the current fiscal year. For the owner of a $250,000 home, these reductions amount to a tax savings of more than $2,500 in a span of eight years.
In fact, Bedford CSD’s property tax rate ranks in the bottom third statewide and is the lowest rate in the Corner Conference and among neighboring districts.
