The Granbury Independent School District (GISD) Board Meeting on August 21, 2023, focused on the proposed tax rate for the upcoming fiscal year, sparking significant discussion about its implications for local taxpayers.

During the meeting, a key point of contention was the proposed tax rate of 93 cents, which some board members argued is misleadingly presented as lower than last year's rate of approximately one dollar. A board member clarified that while the nominal rate appears lower, the actual tax burden may increase due to new state legislation that compresses the maintenance and operations (M&O) rate by 20%. This reduction is intended to be supplemented by the state, but the board member emphasized that it only applies to the M&O component.

Using specific calculations, the board member explained that the previous M&O rate of 85.5 cents would be reduced by 17.1 cents, resulting in an adjusted M&O rate of approximately 68.4 cents. When adding the interest and sinking (I&S) rate of 14.5 cents back into the equation, the effective tax rate would be around 82.9 cents. This means that, despite the proposed rate of 93 cents, the actual tax rate reflects an increase of about 11% when considering the state’s compression.

The discussion highlighted that the proposed tax rate could generate nearly $10 million more in revenue, necessitating voter approval for the increase. The board member reiterated that this proposal constitutes a tax increase, a point that was acknowledged in the district's public communications.

In conclusion, the GISD Board's discussions on the proposed tax rate reveal a complex situation for local taxpayers, who may face higher taxes despite the initial appearance of a lower rate. The board will seek voter approval to move forward with this tax increase, emphasizing the need for transparency in how tax rates are presented and understood by the community.