A tax rate of $1.2558 per $100 valuation has been proposed for fiscal year 2022-23 in Grapevine-Colleyville ISD.

At a May 23 meeting, the GCISD board of trustees scheduled a public meeting to discuss the upcoming tax rate and budget for the next school year. The public meeting will be held on June 20.

The preliminary proposed property tax rate of $1.2558 per $100 valuation is about a 1.51% decrease from the fiscal year 2021-22 rate of $1.2751 per $100 valuation, according to district documents.

The tax rate is divided into two parts—maintenance and operations, or M&O, which funds daily operations for the city, and interest and sinking, or I&S, which is used to make debt payments on capital projects.

The FY 2022-23 tax rate will be made up of a $0.9341 rate for M&O and $0.3217 for debt services, according to district documents.