Taxes / Insurance

Ad Valorem (Property) Tax

Area2022 Rate2021 RateChange% of Total Taxes
 Legal Assessment Ratio 100%100%

 City of Denison .6520340.652034-.00027.44%
 Grayson County .3051000.33900-0.033912.84%
 Denison ISD 1.27211.2895-0.017453.54%
 Grayson College .146704
 Total 2.375938/$100 valuation2.448587/$100 valuation-0.072649100%

AdValorem Tax rate pie chart

Sales & Use Tax

Exempt from taxes are groceries, medicine, property for resale, manufacturing equipment and many items used exclusively on farms and ranches for food production. Leased or purchased machinery, equipment, replacement parts, and accessories that have a useful life for more than six months, and that are used and consumed in the manufacturing, processing, fabricating, or repairing of the tangible personal property for ultimate sale, are exempt from state and local sales and use tax. Texas businesses are exempt from paying state and use tax on labor for constructing new facilities.

City of Denison: 2%
State of Texas: 6.25%
Total: 8.25%

Denison Sales Tax Revenue chart

Income Tax

Texas has no personal income tax. While Texas does not have a corporate income tax as such, it does have a corporate franchise tax.

Corporate Franchise Tax

This tax is imposed on all corporations and is measured by net taxable capital and by net taxable surplus that are apportioned to Texas. Apportionment is determined by using a single gross receipts formula, with allowable deductions applying to both the capital and earned surplus components. The tax rate on net capital assets is 0.25 percent, or $2.50 per $1000 of net taxable capital. The tax rate on net earned surplus is 4.5 percent. Corporations calculate the franchise taxes due on taxable capital assets and on taxable earned surplus, paying the greater of the two amounts.

Insurance (Unemployment)                                                                        

Taxable Base$9,000.00
Average Amount Existing Employees (percentage)0.85%
Statutory Amount for New Employees (percentage)2.70%
Maximum weekly Benefit$297.00