Graham ISD, city of Graham hosting tax, budget hearings next week for public
The city of Graham and Graham ISD will be hosting public hearings next week regarding their upcoming budgets and tax rates. In the month of September, GISD will host one public hearing while the city of Graham will host two.
Graham ISD
The Graham ISD Board of Trustees approved the proposed budget and tax rate for 2021-2022 during their meeting Wednesday, Aug. 11, and set a date for a public hearing. The proposed tax rate, which the last two years has been $1.277 per $100 valuation, the lowest rate since 2013, is being lowered again to $1.274 per $100 valuation.
The approved maintenance and operations tax rate was lowered from $0.9964 to $0.9634, and the interest and sinking tax rate was proposed at the same rate of $0.3106, for a total tax rate of $1.274 per $100 valuation. The board approved a public hearing to be held to discuss the proposed budget and tax rate for 8 a.m. Aug. 30, at the GISD Administration Building at 400 Third St. The total taxable value of all property increased $17,649,731 from $811,323,442 to $828,973,153, based on values from the Young Central Appraisal District.
According to the budget summary, the proposed 2021-2022 budget has increased from $24,651,898 in the actual 2020-2021 budget to $24,922,934 in the proposed budget. The athletic fund revenue has increased from $70,680 to $102,180 from the original 2020-2021 budget to the proposed budget. General fund revenue has increased by $211,164 to $21,261,355, while expenditures in that fund have increased by $243,548 to $20,985,130. Food service revenue and expenditures have increased by $1,715, to $1,010,964. The debt service revenue and expenditures have increased by $27,790, to $2,547,580.
City of Graham
The city of Graham will host two public hearings next month regarding the proposed budget and tax rate. The public hearings on the proposed budget and ad valorem tax rate for the city of Graham will be held during a regular city council meeting at 9 a.m. Thursday, Sept. 2, and at a special called council meeting at 6 p.m. Thursday, Sept. 9. Both meetings will be held at the Graham Visitor and Business Center on 608 Elm St.
The final adoption of the budget and ad valorem tax rate for the city will be during a regular city council meeting at 9 a.m. Thursday, Sept. 30, at the Graham Visitor and Business Center. The proposed general fund budget has $6,998,300 in revenues with $7,047,845.55 in expenditures, or a total general fund negative value of $49,545.55. The city is budgeting for an increase in tax revenue of $35,272 from the 2020-2021 annual budget.
For the rest of the story, see the Aug. 28 edition of The Graham Leader.
