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Notice of Public Hearing of the Tax Rate

A tax rate of $0.146704 per $100 valuation has been proposed by the governing body of Grayson College.

PROPOSED TAX RATE
$0.146704 per $100
NO-NEW-REVENUE TAX RATE
$0.138644 per $100
VOTER-APPROVAL TAX RATE
$0.148370 per $100

The no-new-revenue tax rate is the tax rate for the 2022 tax year that will raise the same amount of property revenue for Grayson College from the same properties in both the 2021 tax year and the 2022 tax year.

The voter-approval rate is the highest tax rate that Grayson College may adopt without holding an election to see voter approval of the rate.

The proposed tax rate is greater than the no-new-revenue tax rate. This means that Grayson College is proposing to increase property taxes for the 2022 tax year.

A PUBLIC HEARING ON THE PROPOSED TAX RATE WILL BE HELD ON AUGUST 23, AT 3:45PM IN THE STUDENT SUCCESS CENTER BOARDROOM.

The proposed tax rate is not greater than the voter-approval tax rate. As a result, Grayson College is not required to hold an election at which voters may accept or reject the proposed tax rate. However, you may express your support for or opposition to the proposed tax rate by contacting the members of the Office of the President of Grayson college at their offices or attending the public hearing mentioned above.

YOUR TAXES OWED UNDER ANY OF THE TAX RATES MENTIONED ABOVE CAN BE CALCULATED AS FOLLOWS:

Property tax amount + (tax rate) X (taxable value of your property) / 100

 

FOR the proposal: Jackie Butler, Paula Cavender, Ronnie Cole, Jared Johnson Dr. Debbie Plyler, Dr. John Spies
AGAINST the proposal: None
PRESENT and not voting: None
ABSENT: Terrence Steele

 

The 86 th Legislature modified the manner in which the voter-approval tax rate is calculated to limit the rate of growth of property taxes in the state.

The following table compares the taxes imposed on the average residence homestead by Grayson College last year to the taxes proposed to be imposed on the average residence homestead by Grayson College this year.

Category 2021 2022 Change
Total tax rate

(per $100 of value)

$0.168053 $0.146704 Decrease of 12.7% between tax rate for preceding year and proposed tax rate for current year
Average homestead taxable value $181,210 $215,439 Increase of 18.9% between average taxable value of residence homestead for preceding year and current year
Tax on average homestead $304.53 $316.06 Increase of 3.79% between taxes imposed for preceding year and taxes proposed for current year
Total tax levy on all properties $19,699,201 $21,754,775 Increase of 10.43% between preceding year levy and proposed levy for current year

For assistance with tax calculations, please contact the tax assessor for Grayson College at 903.464.8630, publicinformation [at] grayson [dot] edu or visit grayson.edu.