The Galveston College Board of Regents, in a special meeting on Tuesday, voted unanimously to adopt a 2012 property tax rate of $0.1894 per $100 valuation.
The college has reduced its rate from the 2011 tax rate of $0.18945 per $100 valuation, but will raise additional revenues through property taxes due to increases in property values. The college anticipates revenues of $9,953,632, a 5.42 percent increase over the previous year, by adoption of the tax rate. Approximately $149,000 of that total amount will come from new property on the tax roll this year.
The school board voted unanimously to approve the lease of “Building No. 4” of the college’s vocational-technical center from the McCoy Corporation for two years at a cost of $23,000 per year.
No other action items were on the agenda. Board Chair George Black was absent. Vice Chair Armin Cantini presided over the meeting. Agenda