Proposed Tax Rate 

and Budget

Current Tax Rate and 2023 Proposed Tax Rate 

The 2022 (current) Tax Rate is 38.00 cents per $100 valuation. 

The 2023 Tax Rate of 38.50 cents per $100 valuation has been proposed by Granbury City Council. 

The 2023 No-New-Revenue Tax Rate is 36.19 cents per $100 valuation. NO-NEW-REVENUE RATE IS DEFINED AT THIS LINK

The 2023 Voter Approval Tax Rate is 67.34 cents per $100 valuation. VOTER APPROVAL TAX RATE IS DEFINED AT THIS LINK

2023 Proposed Property Tax Rate Hearing Date

A public hearing on the proposed property tax rate will be held on Tuesday, Sept. 5 at 6 p.m., at Granbury City Hall, 116 W Bridge Street, Granbury, Texas 76048.

This budget will raise more total property taxes than last year's budget by $1,132,715 (12.81 percent), and of that amount $181,442 is tax revenue to be raised from new property added to the tax roll this year.

Appraised values increased

2023 certified property values, as set by the Hood Central Appraisal District, increased by about 13 percent, or almost $295 million in total, compared to the 2022 certified values. The growth represents an increase in certified valuations from $2.339 billion to $2.634 billion. Strong residential development was the major contributor to the increase in the property valuations in 2023. New residential properties added to the tax roll in 2023 equates to about $47.6 million, new commercial developments were about $13 million.

Effect on City Property Tax-$300,000 home

The 2022 annual City Property Tax bill for a $300,000 home is $1,140. If the proposed 2023 Property Tax Rate is adopted, the annual City Property Tax bill for a $300,000 home will be $1,155, an increase of $15/year.

2022 Tax Rates of Surrounding Cities

Keene 86.7 cents  Joshua 71.1 cents   Burleson 65.7 cents

Crowley 64.5 cents   Cleburne 64 cents   Benbrook 59.5 cents

Mineral Wells 58.4 cents   Weatherford 45.6 cents   Godley 45.4 cents

Link to the proposed budget 

The 345-page Proposed Budget (.pdf) is available to read and download AT THIS LINK.

Budget in Brief

The City’s major revenue sources have maintained strong growth for both the General and the Utility Funds. The largest revenue source for the General Fund, sales and use tax, remains consistent with the City’s trending growth even during the economic fallout triggered by the coronavirus pandemic and the rising cost of doing business. During the budget process, the City focused on keeping most departmental budget line items constant compared to the previous year by utilizing a zero-based budget approach, and ensuring the City continues to fund capital projects and infrastructure needs. 

Fiscal Year 2023-2024 Operating Budget totals $68 million for all funds. Of that amount, approximately $44.5 million is for continued operations, $11.25 million for debt service, and the funding for capital improvement projects and equipment is $3.58 million. The operating inter-fund transfers are approximately $8.67 million.

What you can do

Read and download the Proposed Budget at THIS LINK

Ask the City Manager questions at ccoffman@granbury.org

Let Council members know how you feel. Their emails are ON THIS PAGE

Come to the Sept. 5 meeting at City Hall.