McLennan Community College’s board of trustees approved a budget plan during its monthly meeting Tuesday night that increases the school’s tax rate by more than a tenth of a cent.
The district’s taxpayers will soon be responsible for 15.0346 cents per $100 of property value, an increase of 0.1448 cents. In enacting the rate, the board also adopted a $54,857,535 budget, up by about $1.5 million from last year’s budget. Trustees approved $1,871,120 in capital improvements, about a $250,000 increase from last year.
The new tax rate will bring in about $230,000 more than if trustees had kept the current rate, which also would have brought in more revenue than last year becasue of rising property values. The average home value in 2017 is $158,207, about $14,000 more than last year.
The budget takes effect Sept. 1 and gives 3 percent raises for faculty and high-level administrators, 3.5 percent raises for mid-level administrators and 5 percent raises for support staff and low-level administrators.