San Jacinto College Board of Trustees approves 2012 property tax rates

PASADENA, Texas – The San Jacinto College Board of Trustees approved the 2012 ad valorem property tax rates for the College District during a regularly scheduled meeting on Monday, Oct. 1.

The Board voted to adopt the property tax rate at the same rate as 2011 – a total tax rate of 18.5602 cents per $100 valuation.

The rate is comprised of an assessment for operations (12.1571 cents) and a separate assessment for principal and interest due (6.4031 cents) during the coming year on outstanding general obligation bonds. The debt service rate of 6.4031 cents continues to be less than the promised maximum debt service rate of 6.9438 cents.

Based on the Harris County Appraisal District’s (HCAD) August 27, 2012, certified property value of $37.3 billion, the adopted operating rate is expected to result in current year tax collections of $45.3 million.

The total taxes imposed on a residence homestead at the current year’s average market value of $102,733, at the proposed rate, will be $181.39, a decrease of $6.12 from 2011. A taxpayer owning a homestead residence and claiming the over 65 or older or disabled exemption would incur no taxes ($0.00) to San Jacinto College on a residence appraised at the current year's average appraised value.

“We are aware that the current economic situation is very difficult to those on fixed incomes,” said Dr. Brenda Hellyer, San Jacinto College Chancellor. “We will diligently keep our promise to our seniors and the disabled in our community to honor the exemptions we have in place.”