{"id":50704,"date":"2020-09-14T11:04:00","date_gmt":"2020-09-14T16:04:00","guid":{"rendered":"https:\/\/sites.austincc.edu\/newsroom\/?p=50704"},"modified":"2024-11-22T11:06:03","modified_gmt":"2024-11-22T16:06:03","slug":"acc-trustees-adopt-2020-21-tax-rate","status":"publish","type":"post","link":"https:\/\/sites.austincc.edu\/newsroom\/2020\/09\/14\/acc-trustees-adopt-2020-21-tax-rate\/","title":{"rendered":"ACC Trustees adopt 2020-21 tax rate"},"content":{"rendered":"<p class=\"wp-block-paragraph\">AUSTIN COMMUNITY COLLEGE ADOPTED A TAX RATE THAT WILL RAISE MORE TAXES FOR MAINTENANCE AND OPERATIONS THAN LAST YEAR&#8217;S TAX RATE. THE TAX RATE WILL EFFECTIVELY BE RAISED BY 2.6 PERCENT AND WILL RAISE TAXES FOR MAINTENANCE AND OPERATIONS ON A $100,000 HOME BY APPROXIMATELY $2.62.<\/p>\n<hr class=\"wp-block-separator has-alpha-channel-opacity\" \/>\n<p class=\"wp-block-paragraph\">The Austin Community College District (ACC) Board of Trustees adopted the 2020-21 tax rate during the Board&#8217;s regular meeting on Monday, September 14.<\/p>\n<p class=\"wp-block-paragraph\">The approved tax rate of $0.1058 per $100 of valuation remains among the lowest of community colleges statewide. It includes $0.09 for maintenance &amp; operations and $0.0158 for debt service.<\/p>\n<p class=\"wp-block-paragraph\">Based on the adopted rate, the amount of taxes imposed on a home valued at $360,000 will be about $375 for the year or $31.29\/month.<\/p>\n<h2 class=\"wp-block-heading\">Exemptions<\/h2>\n<p class=\"wp-block-paragraph\">To offset the impact of increased property appraisals, the college offers several exemption options.&nbsp;<\/p>\n<ul class=\"wp-block-list\">\n<li><strong>Homestead exemption:<\/strong>\u00a0 ACC provides a $5,000 homestead exemption to all residential taxpayers (or 1% of property value, whichever is greater)<\/li>\n<li><strong>Exemption for seniors (65+) and homeowners with disabilities:<\/strong>\u00a0 The College also provides a $164,000 exemption for senior taxpayers and homeowners with disabilities, for a total exemption of $169,000 for those taxpayers. This is an increase of $4,000 over last year&#8217;s exemption to offset the impact of increased property appraisals and is the most generous exemption policy in the region.<\/li>\n<li><strong>Commercial property owners:<\/strong> \u00a0Commercial properties are taxed at the same rate as residential property; 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<h2 class=\"wp-block-heading\">Annual Budget<\/h2>\n<p class=\"wp-block-paragraph\">Community colleges are funded in three ways: through student tuition and fees, state funding, and property taxes.&nbsp;<\/p>\n<p class=\"wp-block-paragraph\">About 60 percent of ACC&#8217;s annual budget comes from its property tax revenue. The region&#8217;s increasing property values and new growth allow the college to balance reductions in state support, which has dropped from approximately 40 percent to roughly 16 percent of ACC&#8217;s annual budget in recent years. Tuition and fees make up the remaining budget. The board previously voted to maintain in-district tuition rates for the seventh consecutive year. At $67 per credit, ACC in-district tuition is the most affordable among area colleges and universities.<\/p>\n<p class=\"wp-block-paragraph\">For more information, visit the college\u2019s <a href=\"https:\/\/www.austincc.edu\/offices\/finance-and-administration\/property-taxes\" target=\"_blank\" rel=\"noopener\">property tax informational webpage<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>AUSTIN COMMUNITY COLLEGE ADOPTED A TAX RATE THAT WILL RAISE MORE TAXES FOR MAINTENANCE AND OPERATIONS THAN LAST YEAR&#8217;S TAX RATE. THE TAX RATE WILL EFFECTIVELY BE RAISED BY 2.6 PERCENT AND WILL RAISE TAXES &hellip; <a href=\"https:\/\/sites.austincc.edu\/newsroom\/2020\/09\/14\/acc-trustees-adopt-2020-21-tax-rate\/\">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":[12,13,15,17,18],"tags":[2266,274,383,2869,2360,524],"class_list":["post-50704","post","type-post","status-publish","format-standard","hentry","category-business-and-community","category-current-students","category-facstaff-news","category-news-and-announcements","category-official-acc-press-releases","tag-adopt","tag-board-of-trustees","tag-budget","tag-homestead-exemption","tag-property-tax-rate","tag-tax-rate"],"acf":[],"_links":{"self":[{"href":"https:\/\/sites.austincc.edu\/newsroom\/wp-json\/wp\/v2\/posts\/50704","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=50704"}],"version-history":[{"count":0,"href":"https:\/\/sites.austincc.edu\/newsroom\/wp-json\/wp\/v2\/posts\/50704\/revisions"}],"wp:attachment":[{"href":"https:\/\/sites.austincc.edu\/newsroom\/wp-json\/wp\/v2\/media?parent=50704"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sites.austincc.edu\/newsroom\/wp-json\/wp\/v2\/categories?post=50704"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sites.austincc.edu\/newsroom\/wp-json\/wp\/v2\/tags?post=50704"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}