Late Tax Statements Worry Schools

12-2-05 - Property tax statements in Grayson County are usually sent out around October 15th, but with new state mandates and software changes in the Tax Assessor's Office, those forms are 45 days behind schedule.

While the forms aren't officially late until January 11th, this is the latest in recent years, and the effect is trickling down.

The Sherman School Board met Thursday to lay out the framework for a loan. Without the money usually provided by property taxes, they are two million dollars behind where the school budget should be.

So far it hasn't meant any cut backs for the district which gets 70 percent of the budget from property taxes, but the Assistant Superintendent of Finance says this is the first time in eight years that they've had to draw up emergency plans.

"Sherman ISD has to seek a way to be able to pay it's normal operating expenditures," Assistant Superintendent of Finance Bruce Barnett said. "We don't know if we're going to access the loan or not depending on our actual cash receipts, but we wanted to be proactive and set that up in case we needed it."

The Grayson County Tax Assessor says the forms will be in the mail on Friday, and he does expect the bulk of that money to be in on time which is by the end of January.

School District Officials say writing up the framework for a loan will not effect their credit for the recently passed school bond.