• Square-facebook
  • X-twitter
  • Instagram
Time to read
1 minute
Read so far

Young County approves FY2022 budget, tax rate

Fri, 09/17/2021 - 6:03 pm
news@grahamleader.com

The Young County Commissioner’s Court Monday voted for a 12% tax increase following its required public hearing. The 2021-2022 tax rate of $0.693585 per $100 valuation was approved by a 4-1 vote.
The approved tax rate was $0.06 higher than the No-New-Revenue rate of $0.633038 and $0.026235 higher than the Voter Approval Rate of $0.667350. However, it was below the De Minimis rate of $0.694132. According to the public notice compiled by Young Central Appraisal District Chief Appraiser Luke Robins, it does not exceed the rate that allows voters to petition for an election cited in Section 26.075 of the Texas Tax Code.

According to the Texas Tax Code, that section applies only to a taxing unit other than a special taxing unit; a school district; or a municipality with a population of 30,000 or more. This section applies to a taxing unit only in a tax year in which the taxing unit’s: De Minimis rate exceeds the taxing unit’s Voter-Approval tax rate; and the adopted tax rate is: equal to or lower than the taxing unit’s De Minimis rate; and greater than the greater of the taxing unit’s: voter-approval tax rate calculated as if the taxing unit were a special taxing unit; or voter-approval tax rate.

The De Minimis Rate (.694132) exceeds the Voter Approval Rate (.667350) and the adopted tax rate (.693585) is lower than the De Minimis Rate and higher than the Voter Approval Rate. The rate is allowed to pass without a voter-called election because the proposed rate is above the Voter-Approved Rate, but below the Voter Approval calculated as if the county were a special taxing unit that uses 8% (.7001), according to an explanation given to Bullock by Perdue, Brandon, Fielder, Collins and Mott‚ LLP, delinquent tax attorney firm representing Young County.

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. 18 edition of The Graham Leader.