Financial Information

Total Bond Proposal

$53.98 million broken down as follows:

  • Streets, Drainage and Sidewalks $24.00 million………….....…………proposition #1
  • New Municipal Buildings $5.60 million………………………………......…proposition #2
  • Water and Wastewater Improvements Program $24.38 million.....proposition #3

Current Debt Carried by the City

The City will have $77.30 million in principal outstanding at the end of Fiscal Year 2016, of which it is estimated that less than $5.70 million is being supported by transfers from the City's Enterprise Fund. It is also estimated that $24.38 million of the proposed 2016 Bond Election will be supported by transfers from the City's Enterprise Fund.

Impact to Taxpayers

FY 2016 debt rate is $0.1304 and the proposed debt rate for FY 2017 is $0.1323, which equates to approximately a $15 increase annually per household in debt related property taxes based on an average taxable value assessed at $778,442. FY 2018 will increase approximately $65 while FY 2019 will decrease around $10 annually. FY 2020 will increase approximately $16 and rounding out our five-year fiscal forecast, FY 2021 will decrease approximately $26 per household.

Projected Outstanding City Debt 

Fiscal YearExisting Debt - Tax SupportedExisting Debt - EnterpriseProposed Debt - Tax SupportedProposed Debt - EnterpriseTotal Debt
FY 2016$71,540,266$5,769,734


FY 2017$67,667,083$5,302,917$27,160,000$16,125,000$116,255,000
FY 2018$64,041,616$4,868,384$33,589,158$18,835,842$121,335,000
FY 2019$60,591,806$4,433,194$40,793,334$23,066,666$128,885,000
FY 2020$57,009,450$3,980,550$39,782,873$22,407,127$123,180,000
FY 2021$53,310,417$3,514,583$38,526,270$21,593,730$116,945,000

Bonds for Water and Wastewater Improvement Debt Will Not Affect Tax Rates

Funding for the system improvements will come from water and wastewater revenues and identified efficiency savings which are included in the FY 2017 proposed budget. There will be no impact to Bellaire residents' tax rate as a result of funding for water and wastewater improvements.

Impact on the Debt Service Forecast

The maximum annual increase to debt service on the proposed $66.54 million bond issuances (of which $12.56 million is from the prior 2005 & 2013 bond elections, authorized but as-yet unissued) is approximately $3.90 million and occurs in FY 2026. The debt rate associated with year 2026 is $0.1219, which is lower than the current debt rate, and is a direct result of estimated annual growth in assessed valuations.