Editor’s note: This is part one of a two-part report on Young County’s initial proposed tax rate of 61.5 cents per $100 of property valuation.
In the past year in Graham, much has been made of ad valorem tax rates in Young County.
Political factions have formed because of the county’s newest taxing entity, the Graham Regional Medical Center taxing district, which last year established its rate at 36.5 cents per $100 of property valuation.
This means that for those who own property within GRMC’s district, for every $100,000 of valuation of their property, he or she pays $365 per year, or about a dollar a day.
The group Young County Citizens for Responsible Taxation has, since April, been passing out a petition to people living within the GRMC district. The petition seeks to call an election to dissolve the taxing district in what some call a necessary response to an already tax-burdened county and others call a knee-jerk reaction to what sooner or later would have become an inevitability, as it was one of the last hospitals in Texas to become a taxing entity.
But it doesn’t change the fact that all county taxing entities, including Young County itself, must set their ad valorem rates annually.
Monday morning, Aug. 18, the Young County Commissioners Court held its first public hearing on its proposed tax rate for the 2015 fiscal year at .615, or 61.5 cents per $100 of valuation.
“I suspect the adopted rate will be lower but cannot go higher,” Young County Judge John Bullock said.
This year, the effective tax rate for Young County is .5629, and Bullock explained that the effective tax rate is the total rate needed to raise the same amount of property tax revenue from the county’s same properties in both the 2013 and 2014 tax years.
Read the entire story in Wednesday's Graham Leader.