District expects flat tax rate to yield additional $4.5 million.
By Cynthia Herrera
Despite a flat tax rate, the Alamo Colleges will receive increased revenue for 2015-16 because of an increase in the Bexar County property tax roll.
Trustees approved a 9.03 percent tax revenue increase for the 2015-16 fiscal year during Tuesday’s regular board meeting in Killen Center.
According to the minute order, residents with homes valued at $100,000 are expected to pay a $7.72 increase on the maintenance and operations taxes, a 7.92 percent increase. The combined effective tax rate on the same property would increase by $12.36, or 9.03 percent.
For the flat rate, there is a reduction in the current maintenance and operation tax rate to below the rollback level and reallocating $0.0011 per $100 valuation from the maintenance and operation rate to the debt rate, leaving a combined rate of $0.149150 per $100 valuation for the fiscal year 2015-16, the same level as the 2014-15 fiscal year.
The maintenance and operation tax for a $100,000 home is $105.30. The debt tax is $43.85 and the combined rate is $149.15.
This year’s effective tax rate is $0.136793 per $100 valuation, and last year’s rate was $0.143874 per $100 valuation.
The maintenance and operations tax rate is $0.105300 and last year’s rate was $0.106400.
Last years debt taxes was $44,460,365 with a rate of $0.042750 per $100 valuation. This year’s projected debt tax is $51,518,523 with a rate of $0.043850 per $100 valuation.
Tracey Sulak Bedwell, treasurer for Alamo Colleges, said Aug. 11, the average homeowner paid $233.37 in taxes for the Alamo Colleges during the 2014 tax year. Property value were higher in 2015.
Sulak Bedwell, said the property tax rate would stay at the same rate for 2016 as it was in 2015.
The Alamo Colleges held public hearings Sept. 1 and Sept. 8, but no one from the public attended.
The board of trustees also provided 10 minutes, after the hearing started, to wait in case community members showed up late to speak.