The Grapevine-Colleyville ISD board of trustees approved a total tax rate of $1.2751 per $100 valuation, which is $0.028 lower than the fiscal year 2020-21 tax rate, at its Sept. 27 meeting.

The now-adopted tax rate for fiscal year 2021-22 consists of a maintenance and operations, or M&O, tax rate of $0.9534 and a debt service tax rate of $0.3217, according to the 2021 tax rate resolution.

In comparison, the fiscal year 2020-21 total tax rate was $1.3031, consisting of a $0.3367 debt service rate and a $0.9664 M&O rate, according to GCISD’s 2020-21 tax flyer.

According to a presentation by GCISD Chief Financial Officer DaiAnn Mooney, the average 2021 home value is $401,557. With the tax rate decrease, those with a home valued at $401,557 can expect to pay $5,120 in annual taxes to the district, which is nearly $113 less than last year.