Austin Community College is lowering its tax rate ever so slightly.
The new rate of 9.48 cents per $100 of property value is three-hundredths of one penny smaller than the current rate of 9.51 cents.
The decrease is offset by a minuscule rise in property values, however, and home-owners probably won’t notice a difference in their annual tax bills. This year in the Kyle-Buda area, the average property owner who qualified for a homestead exemption paid $120.01 to the Austin Community College taxing district. Next year, the average homeowner will pay 32 cents more.
Kyle and Buda-area residents voted last November to join the ACC taxing district. In a news release, the college said it was able to lower its tax rate because the annexation of the Hays and Elgin school districts expanded the ACC tax base.
“We are grateful for the community’s investment in ACC, and the college is committed to delivering an exceptional return on that investment,” Dr. Barbara Mink, chair of the ACC Board of Trustees, said in the release.
ACC grants a standard $5,000 homestead exemption plus a $115,000 exemption for seniors and homeowners with disabilities.
The college’s 2011-12 budget, adopted by the board of trustees last week, includes $98.6 million of property tax operating revenue for instructional programs, student support services and facility maintenance, among other things. The budget also includes $5.4 million for debt service.
