Page 128 - Town of Bedford FY 2018-2019 Budget.pdf

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TAX SCHEDULE

Real Estate ............................................................................................................................ $0.32 per $100*
General Tangible Personal Property ................................................................................... $1.06 per $100**
Business Tangible Personal Property .............................................................................. $0.000001 per $100
Mobile Homes ......................................................................................................................... $0.32 per $100
Machinery & Tools .......................................................................................................... $0.000001 per $100
Motor Carriers................................................................................................................. $0.000001 per $100
One Vehicle Owned by Disabled Veteran ....................................................................... $0.000001 per $100
Motor Vehicles (more than 30 seating) .......................................................................... $0.000001 per $100
Public Service Corporations .................................................................................................... $0.32 per $100
Cigarette .................................................................................................................................. $0.30 per pack
Meals ....................................................................................................................................................... 5.5%
Transient Occupancy Tax (Lodging) ........................................................................................................ 5.0%
Sales .............................................................................................................................. 5.3% (approximately)

*As a result of reversion, Town residents now pay $0.32 per $100 value Real Estate taxes. In addition,
Town residents pay $0.52 per $100 value Real Estate tax to the County of Bedford. Each locality bills
separately for their respective rate thus residents get TWO bills – they are not getting double charged.
When the Town was a City residents paid $0.86 per $100 value Real Estate taxes. Residents have
received a net reduction in their tax rate of $0.02 per $100 value on their taxes and now have access to
Town and County services.

**The established tax rate is $1.06 per one hundred dollars of assessed value. Town Council resolved to
pass-through Personal Property Tax Relief (PPTR) funds which are allocated in the following ways: (a)
personal use vehicles valued up to $20,000 will be eligible for 100% tax relief, (b) personal use vehicles
valued at $20,001 or more shall only receive 100% tax relief on the first $20,000 of value with the
applicable tax rate applied to the value over $20,000, and (c) all other vehicles which do not meet the
definition of "qualifying" (business use vehicles, farm use vehicles, motor home, etc.) will not be eligible
for any form of tax relief under PPTR. Vehicles that are valued up to $20,000 will not receive a personal
property tax bill.

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