City proposing 4 percent tax rate increase
The Graham City Council made progress on the budget and tax rate during their budget hearing last Thursday, setting a proposed tax rate of $0.676981 per $100 valuation or a raise of approximately 4% over the effective rate of $0.650943 per $100 valuation.
The effective tax rate for this year is lower than last year’s rate of $0.6527 per $100 valuation. The effective rate is the total tax rate needed to raise the same amount of property tax revenue from the same properties in both the 2018 and 2019 tax year.