Austin’s fast-paced growth has created a huge need for local talent to fill high-skilled, well-paying jobs. Portion sof the proposed bonds will be used to expand programs dedicated to workforce education and training.
Projects proposed in this bond will regionalize college programs and services so more Central Texans can have easier access to the training they need no matter where they live in the district.
At $770 million, the college is able to issue bonds without raising its tax rate. Since property values are expected to increase, the college estimates that at its current tax rate, a taxpayer with a home worth $500,000 would pay up to $5 more per year over the first five years, maxing out at a total increase of $25 more per year for the remainder of the bond.
Seniors (age 65+) and residents with disabilities would see no tax increase as a result of this bond program. In 2021, the ACC Board of Trustees adopted a tax ceiling (freeze) for seniors and residents with disabilities.
Since property values are projected to increase over time, the college estimates that at its current tax rate the bond can be fully funded without an increase to the rate.