VC Board proposes lower property tax rate

VC proposes lower property tax rate

During its special meeting on Monday, Aug. 8, Victoria College’s Board of Trustees proposed a 2022-23 property tax rate of 19.59 cents per $100 of taxable value, a decrease of nearly six percent from the current tax rate.

Based on the Victoria County Appraisal District’s certified property tax values for 2022, a homeowner who lives within Victoria College’s taxing district would pay $195.90 for a home valued at $100,000, before exemptions, compared to $207.60 last year.

If the lower rate is adopted, VC estimates a three percent increase in property tax revenue due to new property added to the tax roll this year.

The board will host a public hearing on the proposed tax rate during a special meeting on Monday, Aug. 15 in Room 101 of the Academic Building at VC’s Main Campus, located at 2200 E. Red River Street. After the public hearing, the board will vote to adopt a 2022-23 tax rate and operating budget.

The agenda for the special meeting will be posted Thursday, Aug. 11 at