Property Tax

​Proposed Tax Rate for the Fiscal Year Ending September 30, 2018


The City of Sherman is required to provide notice of the proposed property tax rate according to Chapter 140 of the Local Government Code.

Effective Tax Rate and Rollback Rate


The effective tax rate is the total tax rate needed to raise the same amount of property tax revenue from the same properties in both the preceding tax year and the current tax year.  The rollback tax rate is the highest tax rate that the City may adopt before voters are entitled to petition for an election to limit the rate that may be approved to the rollback rate. 


Adopted Tax Rate for  Fiscal Year Ending September 30, 2017
THE CITY OF SHERMAN ADOPTED A TAX RATE THAT WILL RAISE MORE TAXES FOR MAINTENANCE AND OPERATIONS THAN LAST YEAR'S TAX RATE.  THE TAX RATE WILL EFFECTIVELY BE RAISED BY 9.8 PERCENT AND WILL RAISE TAXES FOR MAINTENANCE AND OPERATIONS ON A $100,000 HOME BY APPROXIMATELY $38.22

Rates


The property tax rate for the City of Sherman is $0.3943 / $100 of assessed property value as of January 1, 2016. The total rate for most Sherman residents consists of the city’s rate and three other rates:
Taxing Entity Tax Rate
City of Sherman 0.394300
Sherman ISD 1.440000
Grayson County 0.473719
Grayson County College 0.181300
Total 2.489319



Tax & Valuations


Taxable Value


The following chart shows the steady increase in the value of the existing property in the city and the value added from new property.
Property Tax Rates and Revenue

Tax Rates


The following chart shows the effect of a decrease in the tax rate in 2009*. The sales tax rate was increased to partially offset the decrease in the property tax rate.
PropTaxColl