Proposed Tax Rate for the Fiscal Year Ending September 30, 2018
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
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|
|Grayson County College||0.181300|
Tax & Valuations
- Property tax is billed and collected by the Grayson County Tax Assessor-Collector, located at 100 W Houston in Sherman. They can be contacted by calling 903-892-8297.
- Property valuations are performed by the Grayson County Appraisal District, located at 205 N Travis Street in Sherman. They can be contacted by calling 903-893-9673.
The following chart shows the steady increase in the value of the existing property in the city and the value added from new property.
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.