Galveston Community College District adopted a no-new-revenue tax rate at an August meeting. | Pixabay
Galveston Community College District adopted a no-new-revenue tax rate at an August meeting. | Pixabay
Galveston Community College District homeowners will see a notable decrease in property taxes this year.
After an Aug. 17 public hearing, the Galveston Community College District took in a no-new-revenue tax rate. The no-new-revenue looks at the relationship between taxes for the prior year and for the current year based on a tax rate that would produce the same amount of taxes if applied to the same properties that are taxed both years.
The tax rate of $.159188 per $100 for the 2020 year will reflect a 7% decrease from the 2019 rate of $0.171188 per $100 and is still under the voter-approved rate of $0.172690 per $100. This is the second year in a row that the Galveston College board has reduced the district’s tax rate. In 2018, the tax rate was $.176188 per $100.
As well as the tax rate adjustment, board members of Galveston College also approved a 2020-2021 college budget of $23.2 million, which shows a reduction of $275,250 - or 1.2% - compared to the 2019-2020 budget of $23.6 million.
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