The Central Texas College (CTC) Board of Trustees recently voted not to increase its property tax rate and will maintain the current tax rate of 14.09 cents per $100. This marks the 20th consecutive year CTC’s ad valorem tax rate has remained the same or lowered.
“While other entities in the community have chosen to increase their tax rate, we have opted to maintain our current tax rate,” noted CTC Chancellor Dr. Jim Anderson. “While mandated State budget cuts equate to millions of dollars lost for CTC, we continue to hold the line on our tax rate and seek other avenues to minimize the impact of the budget cuts. This should be a bit of good news for property owners within the CTC district.”
The state of Texas supports public community colleges through a combination of apportionment, equalization and restricted grants. However, the proportion of state funding for CTC has declined in recent years and is now lower than that received by any other public community college in Texas. CTC has sought alternative sources such as grants and contracts to offset the reduction.
Dr. Anderson added CTC salaries, scholarships, academic support and new building construction does not come from property taxes. “Property taxes account for only six percent of our overall revenues,” he said. “They cover physical plant, building maintenance and similar expenses. Construction projects like our new nursing building are not funded through debt, bonds or taxpayer dollars.”