County proposes lower tax rate for 2020-2021 budget

The Young County Commissioners Court held a public meeting Monday where Young County Judge John Bullock announced that the commissioners voted unanimously on a proposed tax rate of $0.646085 per $100 valuation.

The proposed tax rate matches the no-new-revenue rate, formerly known as the effective rate. It is also below the adopted tax rate of $0.720759 per $100 valuation from the 2019 tax year. This will raise the same amount of property tax revenue from the same properties in both the 2019 and 2020 tax years.

The announced voter approval rate was $.789687 per $100 valuation. The voter approval rate was formerly known as the roll back rate. Since the proposed rate was lower than the voter approval rate, a public vote will not be required for adoption. The proposed rate can not be raised, but can be lowered before the Sept. 30 deadline for budget and tax adoption.

For the rest of the story, see the Aug. 26 edition of The Graham Leader.