A public hearing is set today at Texarkana College to discuss a proposed Tax increase, 2500 N. Robison Road, Texarkana, Texas.
Texarkana’s Board of Trustees will meet at 11:30 a.m. in the Truman Arnold Student Center’s Pitman Room.
The current tax rate is $0.118115 per $100 in taxable value. The proposed rate is $0.123081 per $100 of taxable property value.
If approved, the increase will generate $300,000 for the general budget and will be used to help repay $10 million in municipal bonds the college took in February for campus improvements, such as: compliance with the Americans With Disabilities Act, renovation of the college’s out-of-date Health-Science Building and Biology Building, upgrading the heating and cooling systems and improving parking lots.
The previous tax increase in August 2017, yielded $340,000 for the 2017-18 budget due to an adjustment of only $0.110718 to $0.118115. A rate increase of 0.007397¢ pre $100.
A second hearing will be held at 11:30 a.m. Aug. 19 in the Patman Room, then Trustees will then vote on the tax rate during their regular meeting at TC Aug. 26.