Grapevine-Colleyville ISD trustees approve lower tax rate for FY2020-21

(Courtesy Fotolia)
(Courtesy Fotolia)

(Courtesy Fotolia)

The Grapevine-Colleyville ISD board of trustees approved a lower tax rate for fiscal year 2020-21 when compared with last year’s rate.

The rate of $1.3031 per $100 valuation comes in at $0.0236 less than the FY2019-20 rate. This lower rate shaves $90 off the annual property tax bill for the average homeowner within the district.


The annual tax bill for the average GCISD homeowner comes in at $4,985 with the new rate, according to the district. That bill represents $1,289 allocated for voter-approved bond projects; $1,217 sent back to the state in the form of recapture or “Robin Hood” payments; and $2,479 used for the district’s daily operating procedures, such as salaries, security and transportation, according to the district.

Editor's note: This story was corrected to reflect that trustees approved the tax rate at the Aug. 24 meeting.
By Gavin Pugh
Gavin has reported for Community Impact Newspaper since June 2017. His beat has included Dallas Area Rapid Transit, public and higher education, school and municipal governments and more. He now serves as the editor of the Grapevine, Colleyville, Southlake edition.


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