Young County adopts lower tax rate for 2020 tax year

Hours after approving a lower tax rate for 2020 from 2019, the Young County Commissioners Court voted and adopted a lower tax rate for the 2020 tax year. During the budget workshop meeting on Aug. 24, the Commissioners Court voted 5-0 to set the 2020 tax rate to $0.617280 per $100 valuation.

The adopted 2020 tax rate was reduced $0.028805, or a 4.5% reduction of the originally proposed tax rate ($0.646085 per $100 valuation) during the public hearing earlier in the day. The court was allowed to lower the tax rate from the previously proposed rate but could not raise it. The adopted rate is nearly 17% less than the 2019 tax rate of $0.743337 and an 18.6% decrease from 2018.

The tax rate is per $100 valuation of land property is set by the Young Central Appraisal District. Property appraisals are completed by the appraisal district and are independent of the taxing districts in the area. YCAD assesses and appraises property in Young County, city of Graham, city of Newcastle, city of Olney, Graham ISD, Newcastle ISD, Olney ISD, Bryson ISD, Woodson ISD, NCTC, Graham Regional Medical Center and Olney Hamilton Hospital.

For the rest of the story, see the Sept. 5 edition of The Graham Leader.