GISD adopts FY 2023 budget, tax rate
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(THOMAS WALLNER | THE GRAHAM LEADER) Graham ISD Board of Trustees members adopted a budget and tax rate for the district Tuesday, Aug. 30 at the GISD Administration building. Shown from left to right are board member Chris Blanton, board member Lauren Mahaney, board president Andrea Lowery, GISD Superintendent Sonny Cruse and board member Dr. Pat Martin.
Following a public hearing Tuesday, the Graham ISD Board of Trustees adopted a tax rate which will continue a yearly tax rate decrease within the entity. The proposed rate of $1.189 per $100 valuation was adopted by the board along with the FY 2023 budget and North Central Texas College tax rate.
Adopted Tax Rate
During their budget workshop Monday, Aug. 15, the GISD board approved the 2022-2023 proposed budget and tax rate and set a public hearing and potential adoption date for Tuesday, Aug. 30. The proposed tax rate adopted Tuesday is a decrease from last year’s adopted rate of $1.274 per $100 valuation. Last year’s rate was also lowered from the rate of $1.277 per $100 valuation for the two years prior.
A total of $0.8784 for maintenance and operations and $0.3106 for the interest and sinking fund was adopted to make the total of $1.189 per $100 valuation. The adopted tax rate was lower than the highest rate the district could adopt before requiring an election with voter approval, which was $1.208402 per $100 valuation.
GISD Assistant Superintendent and Finance Director Don Davis presented to the board during their budget workshop Aug. 15. Davis said what is driving the tax rate down is the local values rising on properties within the district. The total appraised value of all properties increased from $1,073,803,103 in FY 2022 to $1,285,064,283 in FY 2023. The total taxable value increased from $828,973,153 in the current tax year to $936,796,156 in the upcoming tax year.
For the full story, see the Saturday, Sept. 3 edition of The Graham Leader.
