VC plans for next year's tax rate
July 18, 2011 at 2:18 a.m.
The Victoria College Board of Trustees in a quick meeting Monday approved a representative to calculate next year's property tax rate and the calendar for implementing that rate.
As is customary, Victoria County Tax Assessor-Collector Rena Scherer will calculate the effective and rollback tax rate based on property appraisal values.
The board can adopt, without a hearing, the effective tax rate - or the rate the college would have to charge to collect the same amount of money it did last year.
Anything higher than that would require two public hearings, said Keith Blundell, vice president of administrative services.
"We still don't know if we're going to adopt the effective tax rate yet," he said. "If the board's intention is to raise the rates, but the appraisals come in higher than expected, then they wouldn't have to raise those rates as high."
At its budget workshop in June, the board was considering a property tax that, for a $100,000 home, would increase about $4.
A tax rate higher than the calculated rollback rate would require an election, which is unlikely. The rollback rate is essentially 8 percent above the effective tax rate, Blundell said.
"We never get up that high," he added.
Scherer is expected to publish the tax rates by Aug. 1. A meeting to discuss the tax rate and, if necessary, schedule public hearings is set for Aug. 8.