The Galveston Community College District Board of Regents on Aug. 18 adopted the college’s 2021-2022 budget and district’s 2021 tax rate.
The balanced $25,338,529 budget reflects an increase of $1,971,784 or 8.4 percent compared to the 2020-2021 budget of $23,366,745.
“The college budgeted conservatively in 2020-2021 due to anticipated decrease in student enrollment because of the COVID-19 pandemic,” said Dr. Myles Shelton, college president. “Fortunately, we did not experience a significant loss in student enrollment; therefore, we are adjusting this year’s budget to reflect the current status of the college.”
Regents adopted a 2021 tax rate of $0.146188 per $100 taxable value, which is 8.17 percent less than the 2020 tax rate of $0.159188 per $100 taxable value.
The no-new-revenue tax rate has been calculated to be $0.135013 per $100 taxable value. The no-new-revenue tax rate is the tax rate for the 2021 tax year that will raise the same amount of property tax revenue for the college district for the same properties in both the 2020 tax year and the 2021 tax year.
GALVESTON COMMUNITY COLLEGE DISTRICT ADOPTED A TAX RATE THAT WILL RAISE MORE TAXES FOR MAINTENANCE AND OPERATIONS THAN LAST YEAR’S TAX RATE.
THE TAX RATE WILL EFFECTIVELY BE RAISED BY 7.69 PERCENT ABOVE THE NO-NEW-REVENUE MAINTENANCE AND OPERATIONS RATE AND WILL DECREASE TAXES ON A $100,000 HOME BY APPROXIMATELY $13.