Grayson County Tax Rate to remain the same

Grayson County Texas | August 25, 2014

For the twelfth year in a row, property tax rates in Grayson County will stay the same.

Commissioners say property valuations came back higher than usual this year,

which is effectively a 2.31 % increase, but tax payers won't see a change in their rate.  Does this mean Grayson County residents won't see an increase in their taxes? Not necessarily.

Local taxing authorities in Texas are required by law to re-evaluate property values  in their district every five years and bring the taxable value of the property up to fair market value.   Determination of taxable value is calculated by comparing the property to recent sales data in the surrounding area.   The law places restrictions on how much the property value can be increased in a single year but it can continue to rise in subsequent years until fair market value is obtained.  These notices of re-evaluation were sent out by the Grayson County Appraisal District in May.  Tax billing is sent out in October of each year.

Property owners have the right to appeal.   You will need to present property information to justify your claim - condition of the property, sales data in your immediate area, sales contract or appraisal.   Appeals will be reviewed by a Tax District appraiser or presented to the Appraisal Review Board who will then determine county taxable value.

Several exemptions area available that help reduce taxes.  The most widely used is the Homestead Exemption.  Senior citizens are also eligible for the Over 65 exemptions.  Disabled veterans also have exemptions and in some cases can be exempt from paying all real estate taxes.  You can contact the Grayson County Appraisal District for more information on which exemptions you are eligible to receive.

There will be two public hearings on the proposed tax rate, at 10 a.m on September 2nd and 9th, and commissioners will formally adopt the measure in their September 16th meeting.