Young County commissioners adopt budget, tax rate

Young County commissioners voted Monday, Aug. 29 to adopt a budget and tax rate for the upcoming tax and fiscal year. Commissioners voted for a 15% decrease from last year’s adopted tax rate.

The adopted tax rate of $0.587609 per $100 valuation is a $0.105676 decrease from the current rate of $0.693585. The newly adopted tax rate, which goes into effect Oct. 1, is lower than the voter-approval tax rate of $0.646166 per $100 valuation and the no-new-revenue tax rate of $0.597103 per $100 valuation. Young County will not be required to hold an election to seek voter approval of the rate.

The tax rate 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, North Central Texas College, Graham Hospital District, and Olney Hamilton Hospital District.

Young County Judge John Bullock credits some land value increases along with more properties included on the tax roll, including the 10-year abatement period for the Trinity Hills wind farm coming to an end. Bullock estimated the Trinity Mills wind farm added nearly $44 million to the tax roll. The 15% decrease in total tax rate will still bring in a 4.6% increase in total tax levy from $6,868,349 to $7,187,200, according to a public notice from the county.

For the full story, see the Wednesday, Aug. 31 edition of The Graham Leader.