{"id":48062,"date":"2022-09-26T10:47:00","date_gmt":"2022-09-26T15:47:00","guid":{"rendered":"https:\/\/sites.austincc.edu\/newsroom\/?p=48062"},"modified":"2024-10-25T09:59:58","modified_gmt":"2024-10-25T14:59:58","slug":"acc-trustees-approve-tax-rate-for-2022-23","status":"publish","type":"post","link":"https:\/\/sites.austincc.edu\/newsroom\/2022\/09\/26\/acc-trustees-approve-tax-rate-for-2022-23\/","title":{"rendered":"ACC Trustees approve tax rate for 2022-23"},"content":{"rendered":"<p><em><strong>*Note: A clarification has been added regarding exemption opportunities and freeze.<\/strong><\/em><\/p>\n<p><em><strong>The tax rate remains among the lowest of community colleges statewide<\/strong><\/em>.<\/p>\n<p>The Austin Community College District (ACC) Board of Trustees approved a new tax rate for the 2022-23 property tax rate during a special meeting Thursday, September 22.<\/p>\n<p>The tax rate of $0.0987 (09.87cents) per $100 valuation consists of $0.0852 for Maintenance and Operation and $0.0135 for Debt Service. It\u2019s less than the 2021 rate of $0.1048 due to a decreased M&amp;O and debt service rate.<\/p>\n<p>At the new rate, the property tax rate for an average home valued at approximately $512,000 would be $505 for the year or $42 per month.<\/p>\n<p>All ACC taxpayers remain eligible for the college\u2019s various 2022-23 tax exemptions, which include:<\/p>\n<ul class=\"wp-block-list\">\n<li><strong>Homestead Exemption<\/strong><strong>:\u00a0<\/strong>ACC provides a $5,000 homestead exemption to all residential taxpayers (or 1% of property value, whichever is greater).<\/li>\n<li>S<strong>eniors (65+) &amp; Homeowners with Disabilities Exemption:<\/strong> The college provides an additional $75,000 exemption for senior taxpayers and homeowners with disabilities. On top of the $5,000 homestead exemption, it equals an $80,000 exemption. The Board adopted a tax freeze for seniors and homeowners with disabilities in 2021. *Eligible residents who received the $185,000 exemption prior to the board freeze will continue to receive\u00a0<em>the benefit of<\/em>\u00a0that exemption\u00a0<em>via the tax freeze<\/em>. Contact your<a href=\"https:\/\/drive.google.com\/file\/d\/1rXzFcrIZybSBwlBS1Y4oA-aYI-KpT5uF\/view?usp=sharing\" target=\"_blank\" rel=\"noopener\">\u00a0county&#8217;s taxing district<\/a> for information on how to apply for the exemption or to verify that the exemption is being applied.<\/li>\n<li><strong>Commercial Property Owners<\/strong><strong>:<\/strong> Commercial properties are taxed at the same rate as residential properties; however, per Texas Property Tax Code, commercial properties are taxed on both real property and personal property, while residential properties are only taxed on real property.<\/li>\n<\/ul>\n<p><strong>Annual Budget<\/strong><\/p>\n<p>About 67 percent of ACC\u2019s annual budget comes from its property tax revenue. Other funding is through student tuition and fees and state funding.&nbsp;<\/p>\n<p>In July, ACC Board of Trustees approved a $467 million budget for FY2023.&nbsp;<\/p>\n<p>Tuition and fees continue to remain unchanged for the ninth straight year and remain at just $67 per credit hour for in-district students.&nbsp;<\/p>\n<p>For more information about the college\u2019s budget and tax rate, visit the <a href=\"https:\/\/www.austincc.edu\/offices\/finance-and-administration\/property-taxes#:~:text=Exemption%20for%20seniors%20(65%2B),of%20%24185%2C000%20for%20those%20taxpayers.\" target=\"_blank\" rel=\"noopener\">ACC Property Taxes webpage<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>*Note: A clarification has been added regarding exemption opportunities and freeze. The tax rate remains among the lowest of community colleges statewide. The Austin Community College District (ACC) Board of Trustees approved a new tax &hellip; <a href=\"https:\/\/sites.austincc.edu\/newsroom\/2022\/09\/26\/acc-trustees-approve-tax-rate-for-2022-23\/\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":3930,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[12,13,15,18],"tags":[2016,274,2869,1963,2556],"class_list":["post-48062","post","type-post","status-publish","format-standard","hentry","category-business-and-community","category-current-students","category-facstaff-news","category-official-acc-press-releases","tag-board","tag-board-of-trustees","tag-homestead-exemption","tag-property-tax","tag-taxes"],"acf":[],"_links":{"self":[{"href":"https:\/\/sites.austincc.edu\/newsroom\/wp-json\/wp\/v2\/posts\/48062","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sites.austincc.edu\/newsroom\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sites.austincc.edu\/newsroom\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sites.austincc.edu\/newsroom\/wp-json\/wp\/v2\/users\/3930"}],"replies":[{"embeddable":true,"href":"https:\/\/sites.austincc.edu\/newsroom\/wp-json\/wp\/v2\/comments?post=48062"}],"version-history":[{"count":0,"href":"https:\/\/sites.austincc.edu\/newsroom\/wp-json\/wp\/v2\/posts\/48062\/revisions"}],"wp:attachment":[{"href":"https:\/\/sites.austincc.edu\/newsroom\/wp-json\/wp\/v2\/media?parent=48062"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sites.austincc.edu\/newsroom\/wp-json\/wp\/v2\/categories?post=48062"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sites.austincc.edu\/newsroom\/wp-json\/wp\/v2\/tags?post=48062"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}