Updated June 21, 2023, to add a clarification regarding exemption opportunities and freeze (*).
ACC’s Board of Trustees approved a new tax rate for the 2022-23 property tax rate during a special meeting Thursday, September 22. The tax rate remains among the lowest of community colleges statewide.
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’s less than the 2021 rate of $0.1048 due to a decreased M&O and debt service rate.
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.
All ACC taxpayers remain eligible for the college’s various 2022-23 tax exemptions, which include:
- Homestead Exemption: ACC provides a $5,000 homestead exemption to all residential taxpayers (or 1% of property value, whichever is greater).
- Seniors (65+) & Homeowners with Disabilities Exemption: 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 the benefit of that exemption via the tax freeze. * Contact your county’s taxing district for information on how to apply for the exemption or to verify that the exemption is being applied.
- Commercial Property Owners: 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.
About 67 percent of ACC’s annual budget comes from its property tax revenue. Other funding is through student tuition and fees and state funding.
In July, ACC Board of Trustees approved a $467 million budget for FY2023.
Tuition and fees continue to remain unchanged for the ninth straight year and remain at just $67 per credit hour for in-district students.
For more information about the college’s budget and tax rate, visit the ACC Property Taxes webpage.