Amarillo College will not be increasing its originally planned tax rate as much as everyone thought. Because home values were higher than expected, the college originally proposed a tax rate of $2.49 higher than it was last year, bringing the total to $18.39 per $100. But in June, Amarillo College officials agreed on a $2.35 increase, bringing the total to $16.04 per $100.
The taxable property values within the college district have helped trim the tax rate this year. There is around $9.78 billion coming from property taxes within the district. That's $82 million more that the college had budgeted for. Now, the college will not have to move money from contingencies to balance its budget. Much of the new tax rate will be used to upgrade some of the college's older buildings.
There will be public hearings in Amarillo , Texas scheduled for August 15th and 18th so if you are a property owner in Amarillo , come voice your opinion at one of these hearings.
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