The Galveston College Board of Regents, in a special meeting on Monday, voted 5-2, with George Black and Paul Cunningham opposed, to propose a 2011 tax rate of $0.18945 per $100 valuation.
The proposed rate is lower than the 2010 Tax Rate of $0.189475 per $100 valuation, but reflects an increase in tax revenues due to appraised property values. The effective rate, which would be the amount the college would need to levy to draw equal revenues to 2010, is $0.1814 per $100 valuation. The rollback rate, or maximum rate the college could levy without opening the possibility of a petition for a rollback election, is $0.1957.
The college board voted 5-2, with Black and Cunningham opposed, to adopt the 2011-2012 Budget. Black had voted against the proposed budget at a meeting on August 10, stating that the college should not increase its tax revenues by any amount “under the current circumstances”. Report
A public hearing was held prior to adoption of the budget. The board received no comments from the public during the hearing.
Formal adoption of the 2011 tax rate will be considered by the board on September 27. The college board scheduled public hearings regarding the tax rate on September 7 and September 14.
No other action items were on the agenda. Regents Barbara Crews and Armin Cantini were absent from the meeting. Agenda