Central Texas College will host a public hearing at 2 p.m. Aug. 21 to discuss a proposed tax rate of about 14 cents per $100 of taxable value, an increase of about 6.99 percent from last year’s tax rate.
The hearing will be the second this month, following an initial hearing Tuesday.
At that meeting, nearly all members of the governing body, with the exception of Don Armstrong, voted in favor of the increase.
The average taxable value of a residence homestead in Central Texas College last year was $137,816. Last year’s tax rate was roughly 13 cents per $100 of taxable value, and the amount of taxes imposed on the average home last year was $192.80, according to the CTC.
This year, the average taxable value of a residence homestead in Central Texas College was $141,012, an increase of $3,196 from last year. If the governing body adopts the proposed tax rate, the amount of taxes imposed this year on the average home would be $209.12, up $16.32.
The tax increase will affect anyone within the KISD and CCISD taxing districts, CTC officials said.
Central Texas College funding comes from three primary sources: tuition revenue, state appropriations and local tax revenue.
In recent years, the college has experienced declining tuition revenue due to lower military enrollments outside Texas, said CTC Chancellor Jim Yeonopolus.
“In addition, the college receives very little relief in meeting its obligation to comply with unfunded mandates. As with other local governmental entities, CTC is experiencing the impact of the well-deserved property tax exemption for our 100 percent disabled veterans,” Yeonopolus said. “The resulting decrease in tax revenue with no foreseeable relief from the state requires the college’s administration to recommend an increase to the tax rate.
“CTC has been committed to a low tax rate for many years. In fact, we have had 20-plus consecutive years of either maintaining or lowering the tax rate. Under the present circumstances, CTC has made the tough decision to consider an increase to the current tax rate,” Yeonopolus added.
The Aug. 21 meeting to further discuss the potential rate increase will take place at the Anderson Campus Center board room, 6200 W. Central Texas Expressway, Killeen.