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Bedford council sets maximum tax rate for public hearing after weeks of budget debate over retiree COLA
Summary
The Bedford City Council on Tuesday set a maximum proposed tax rate and scheduled a Sept. 9 public hearing after a contentious discussion about adding a recurring cost‑of‑living adjustment for retirees under the Texas Municipal Retirement System.
The Bedford City Council on Tuesday set a maximum proposed tax rate and scheduled a public hearing after hours of debate over whether to add a non‑retroactive cost‑of‑living adjustment (COLA) to retiree pensions administered through the Texas Municipal Retirement System (TMRS).
Council members voted 6‑0 to set a maximum tax rate of $0.526212 per $100 of assessed valuation and scheduled a public hearing for Sept. 9, 2025, at 6 p.m. in City Hall. The vote establishes the ceiling the council may consider at that hearing; it is not an adoption of the tax rate.
The discussion centered on a city staff proposal to add a TMRS COLA option to next year’s budget. Staff presented two recurring options: a 30% COLA formula and a more expensive 50% COLA formula that would add roughly $263,000 annually to the city’s ongoing obligations. Council members also discussed offsetting the first year’s cost with one‑time bond…
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