Tax Information
How is Graford ISD’s tax rate configured?
A school district’s tax rate is comprised of two components: the Maintenance & Operations tax (M&O) and the Interest & Sinking tax (I&S). The M&O rate is used to operate the school district, including salaries, utilities, furniture, supplies, food, gas, etc. The I&S rate is used to pay off school construction bonds. Bond sales only affect the I&S rate.
How will the bond affect MY taxes?
If the bond passes, there will be a tax rate impact of 3 cents. View the charts below to see the estimated tax impact according to your home value.
BEFORE $100,000 HOMESTEAD EXEMPTION
AFTER $100,000 HOMESTEAD EXEMPTION
No Tax Rate Impact for Voters 65+ and/or Disabled
Under state law, the dollar amount of school taxes imposed on the residence homestead of a person 65 years of age or older cannot be increased above the amount paid in the first year after the person turned 65 or became disabled. This freeze applies regardless of changes in tax rate or property value, unless there are new improvements/additions to the homestead.
YOU MUST APPLY FOR THIS EXEMPTION.
