Central Texas College’s Board of Trustees voted this week to lower property tax rates for the 2014 fiscal year.
Members unanimously agreed to set the rate at 13.7 cents per $100 assessed property valuation, down from 14 cents the previous year.
According to college officials, this is the 20th consecutive year the tax rate held steady or was lowered.
“This is an excellent example of good stewardship by our elected officials,” Chancellor Thomas Klincar said. “The administration heartily supports this lowering of the tax rate.”
The tax rate was approved during the board’s regular meeting Tuesday.
At the same meeting, the board also voted to approve next year’s budget.
The $184 million budget for FY 2014, which starts Sept. 1, includes more than $16.2 million in capital improvements to the Killeen campus.
The budget also includes a midyear increase from $63 to $66 for in-district tuition, the first such increase since fall 2012, college officials said.
This year’s budget will include a pay increase for CTC staff. The increase is a 1.5 percent cost-of-living increase, and an annual one-step salary increase of 2.5 percent for full-time, regular employees not subject to contract labor law.
“This is the first cost-of-living increase our employees have received in three years,” Klincar said.