{"id":2330,"date":"2022-09-26T15:40:00","date_gmt":"2022-09-26T21:40:00","guid":{"rendered":"https:\/\/infohub.austincc.edu\/shared-governance\/?p=2330"},"modified":"2023-06-21T14:34:45","modified_gmt":"2023-06-21T20:34:45","slug":"acc-trustees-approve-tax-rate-for-2022-23","status":"publish","type":"post","link":"https:\/\/infohub.austincc.edu\/shared-governance\/blog\/2022\/09\/26\/acc-trustees-approve-tax-rate-for-2022-23\/","title":{"rendered":"ACC Trustees approve tax rate for 2022-23"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><em>Updated June 21, 2023, to add a clarification regarding exemption opportunities and freeze (*).<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">ACC\u2019s 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.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">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\n\n\n<p class=\"wp-block-paragraph\">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\n\n\n<p class=\"wp-block-paragraph\">All ACC taxpayers remain eligible for the college\u2019s various 2022-23 tax exemptions, which include:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Homestead Exemption<\/strong>: ACC provides a $5,000 homestead exemption to all residential taxpayers (or 1% of property value, whichever is greater).<\/li>\n\n\n\n<li><strong>Seniors (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 <strong>the benefit of<\/strong>\u00a0that exemption\u00a0<strong>via the tax freeze<\/strong>. * Contact <a href=\"https:\/\/drive.google.com\/file\/d\/1rXzFcrIZybSBwlBS1Y4oA-aYI-KpT5uF\/view\"><strong>your county&#8217;s taxing district<\/strong><\/a> for information on how to apply for the exemption or to verify that the exemption is being applied.<\/li>\n\n\n\n<li><strong>Commercial Property Owners<\/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\n\n\n<h2 class=\"wp-block-heading\">Annual Budget<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">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.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In July, ACC Board of Trustees approved a $467 million budget for FY2023.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Tuition and fees continue to remain unchanged for the ninth straight year and remain at just $67 per credit hour for in-district students.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">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.\"><strong>ACC Property Taxes webpage<\/strong><\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Updated June 21, 2023, to add a clarification regarding exemption opportunities and freeze (*). ACC\u2019s 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 [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[4],"tags":[15],"class_list":["post-2330","post","type-post","status-publish","format-standard","hentry","category-happening-now","tag-board-of-trustees","et-doesnt-have-format-content","et_post_format-et-post-format-standard"],"_links":{"self":[{"href":"https:\/\/infohub.austincc.edu\/shared-governance\/wp-json\/wp\/v2\/posts\/2330","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infohub.austincc.edu\/shared-governance\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infohub.austincc.edu\/shared-governance\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infohub.austincc.edu\/shared-governance\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/infohub.austincc.edu\/shared-governance\/wp-json\/wp\/v2\/comments?post=2330"}],"version-history":[{"count":0,"href":"https:\/\/infohub.austincc.edu\/shared-governance\/wp-json\/wp\/v2\/posts\/2330\/revisions"}],"wp:attachment":[{"href":"https:\/\/infohub.austincc.edu\/shared-governance\/wp-json\/wp\/v2\/media?parent=2330"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infohub.austincc.edu\/shared-governance\/wp-json\/wp\/v2\/categories?post=2330"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infohub.austincc.edu\/shared-governance\/wp-json\/wp\/v2\/tags?post=2330"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}