SHERMAN, Texas (KXII) – Grayson County commissioners on Tuesday morning approved the budget for the 2022-23 fiscal year, including adjustments to where the county will spend its money and how much tax residents will pay .
The commissioners voted to lower the tax rate by 10%.
While that sounds good, the commissioners lowered the rate to counter an increase in the assessed value of the property.
The assessed value has increased by 10.5%, so taxes can still increase by at least 0.5% or about $18.80 per year.
Commissioners said the change is expected to generate about $4.5 million in additional property tax revenue over last year.
The county also said the new budget would increase wages for county employees, contract emergency services and NTRA firefighters by 7%.
“Ultimately, we’ve been fiscally responsible in everything we’ve done in Grayson County Commissioners,” Grayson County Judge Bill Magers said. “I’m very proud of this place because it’s a very difficult time. We haven’t had inflation like this in many years, so I think it will be a challenge to keep tax services running.
The commissioners also said they want the budget to provide enough money to fully staff the county and buy new vehicles and equipment for law enforcement as well.
You will notice the changes when you receive your tax bill later this year.
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