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Graham ISD proposes budget, tax rate, sets public hearing

The Graham ISD Board of Trustees approved the proposed budget and tax rate for 2021-2022 during their meeting Wednesday 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. GISD Assistant Superintendent and Finance Director Don Davis said a big percentage of local values are driven by oil and gas and in the past have decreased when oil and gas have fallen.

“It is accurate to say that if our tax rate has decreased and if the value of your property increases more than the tax decreased over time then you would be paying more taxes. If your property value stays flat, then your taxes would be less than you pay on the school district. I am just talking about the school district. Because when people get their tax bill, they just look at the bottom line, but it takes into account all of the (taxing) entities, which the school district makes up most of that amount, a bigger percentage,” Davis said.

For the rest of the story, see the Aug. 18 edition of The Graham Leader.

The Graham Leader

GRAHAM OFFICE
620 Oak Street
P.O. Box 600
Graham, Texas 76450
Phone: (940) 549-7800
Fax: (940) 228-0589