Tax Notices

Notice of Adopted Tax Rate

Houston Community College ADOPTED A TAX RATE
THAT WILL RAISE MORE TAXES FOR MAINTENANCE
AND OPERATIONS THAN LAST YEAR'S TAX RATE.

THE TAX RATE WILL EFFECTIVELY BE RAISED BY
7.31 PERCENT AND WILL RAISE TAXES FOR
MAINTENANCE AND OPERATIONS ON A $100,000
HOME BY APPROXIMATELY $0.00.

Notice of Public Hearing on Tax Increase

The Houston Community College will hold two public hearings on a proposal to increase total tax revenues from properties on the tax roll in the preceding tax year by 18.04 percent (percentage by which proposed tax rate exceeds lower of rollback tax rate or effective tax calculated under Chapter 26, Tax Code). Your individual taxes may increase at a greater or lesser rate, or even decrease, depending on the change in the taxable value of your property in relation to the change in taxable value of all other property and the tax rate that is adopted.

The first public hearing will be held on October 2, 2014 at 3:30 PM at HCC Administration Building, 3100 Main, 2nd Floor, Seminar Room B.

The second public hearing will be held on October 7, 2014 at 3:30 PM at HCC Administration Building, 3100 Main, 2nd Floor, Seminar Room B.

The members of the governing body voted on the proposal to consider the tax increase as follows:

FOR: 

Zeph Capo Robert Glaser
Eva Loredo Christopher W. Oliver
Carroll G. Robinson Neeta Sane
Adriana Tamez Dave Wilson


AGAINST:
Sandie Mullins

PRESENT and not voting:

ABSENT:

The average taxable value of a residence homestead in Houston Community College last year was $156,289. Based on last year's tax rate of $0.097173 per $100 of taxable value, the amount of taxes imposed last year on the average home was $151.87.

The average taxable value of a residence homestead in Houston Community College this year is $170,380. If the governing body adopts the effective tax rate for this year of $0.090554 per $100 of taxable value, the amount of taxes imposed this year on the average home would be $154.29.

If the governing body adopts the proposed tax rate of $0.106890 per $100 of taxable value, the amount of taxes imposed this year on the average home would be $182.12.

Members of the public are encouraged to attend the hearings and express their views.

Notice of Tax Revenue increase

The Houston Community College conducted public hearings on October 2, 2014 and October 7, 2014 on a proposal to increase the total tax revenues of the Houston Community College from properties on the tax roll in the preceding year by 18.04 percent.

The total tax revenue proposed to be raised last year at last year's tax rate of $0.097173 for each $100 of taxable value was $144,133,096.

The total tax revenue proposed to be raised this year at the proposed tax rate of $0.106890 for each $100 of taxable value, excluding tax revenue to be raised from new property added to the tax roll this year, is $168,842,572.

The total tax revenue proposed to be raised this year at the proposed tax rate of $0.106890 for each $100 of taxable value, including tax revenue to be raised from new property added to the tax roll this year, is $171,699,666.

The Board of Trustees of Houston Community College is scheduled to vote on the tax rate that will result in that tax increase at a public meeting to be held on October 16, 2014 at HCC Administration Building, 3100 Main, 2nd Floor, Auditorium at 4:00 PM.

Effective and Rollback Tax Rate Calculations

2014 Property Tax Rates in Houston Community College

This notice concerns the 2014 property tax rates for Houston Community College. It presents information about three tax rates. Last year's tax rate is the actual tax rate the taxing unit used to determine property taxes last year. This year's effective tax rate would impose the same total taxes as last year if you compare properties taxed in both years. This year's rollback tax rate is the highest tax rate the taxing unit can set before taxpayers start rollback procedures. In each case these rates are found by dividing the total amount of taxes by the tax base (the total value of taxable property) with adjustments as required by state law. The rates are given per $100 of property value.

Last year's tax rate:

 

    Last year's operating taxes

$114,292,815

    Last year's debt taxes

$29,840,281

    Last year's total taxes

$144,133,096

    Last year's tax base

$148,326,279,934

    Last year's total tax rate

$0.097173/$100

This year's effective tax rate:

 

    Last year's adjusted taxes
    (after subtracting taxes on lost property)

$143,038,958

   ÷ This year's adjusted tax base
    (after subtracting value of new property)

$157,959,183,755

   =This year's effective tax rate

$0.090554/$100

(Maximum rate unless unit publishes notices and holds hearings.)

 

This year's rollback tax rate:

 

    Last year's adjusted operating taxes
    (after subtracting taxes on lost property and adjusting for any transferred function, tax increment financing, state criminal justice mandate, and/or enhanced indigent healthcare expenditures)

$113,425,717

   ÷ This year's adjusted tax base

$157,959,183,755

   =This year's effective operating rate

$0.071807/$100

    x 1.08=this year's maximum operating rate

$0.077551/$100

    + This year's debt rate

$0.029835/$100

    = This year's total rollback rate

$0.107386/$100

Statement of Increase/Decrease

If Houston Community College adopts a 2014 tax rate equal to the effective tax rate of $0.090554 per $100 of value, taxes would increase compared to 2013 taxes by $1,325,708.
Schedule A - Unencumbered Fund Balance

The following estimated balances will be left in the unit's property tax accounts at the end of the fiscal year. These balances are not encumbered by a corresponding debt obligation.

Type of Property Tax Fund

Balance

 

0

Schedule B - 2014 Debt Service

The unit plans to pay the following amounts for long-term debts that are secured by property taxes. These amounts will be paid from property tax revenues (or additional sales tax revenues, if applicable).

Description of Debt

Principal or Contract Payment to be Paid from Property Taxes

Interest to be Paid from Property Taxes

Other Amounts to be Paid

Total Payment

Limited Tax Refunding Bond, Series 2011

5,610,000

4,925,700

0

10,535,700

Limited Tax G.O. Bonds, Series 2013

2,130,000

18,863,819

0

0

20,993,819

Maintenance Tax Notes, Series 2006

545,000

343,550

00

888,550

Maintenance Tax Notes, Series 2008

2,255,000

1,915,564

0

4,170,564

Maintenance Tax Notes, Series 2009

805,000

436,894

0

1,241,894

Maintenance Tax Notes, Series 2010

2,010,000

1,972,600

0

3,982,600

Maintenance Tax Notes, Series 2011

1,445,000

1,845,800

0

3,290,800

Maintenance Tax Notes, Series 2011A

725,000

861,525

0

1,586,525

PFC Lease Revenue Bonds, Series 2006

0

1,235,573

0

1,235,573

  Total required for 2014 debt service

$47,926,025

 

- Amount (if any) paid from Schedule A

$0

 

- Amount (if any) paid from other resources

$0

 

- Excess collections last year

$0

 

= Total to be paid from taxes in 2014

$47,926,025

 

+ Amount added in anticipation that the unit will collect only 100.00% of its taxes in 2014

$0

 

= Total debt levy

$47,926,025

 

             

This notice contains a summary of actual effective and rollback tax rates' calculations. You can inspect a copy of the full calculations at 3100 Main St., Houston, TX 77002.
Name of person preparing this notice: Teri Zamora  Title: Vice Chancellor Finance & Planning
Date Prepared: 09/04/2014 

Truth in Taxation FAQ

What is the Effective Tax Rate?

The effective tax rate is a calculated rate that would provide the taxing unit with about the same amount of revenue it received in the year before on properties taxed in both years. If property values rise, the effective tax rate will go down and vice versa.

What is the Rollback Tax Rate?

The rollback rate provides the taxing unit with about the same amount of tax revenue from the previous year, plus an extra eight percent increase, in addition to sufficient funds to pay debts in the coming year.

Why must HCC hold two public hearing if the tax rate will not increase?

A taxing unit, other than a water district or small taxing unit which is covered by special provisions, must publish special notices and hold two public hearings before adopting a tax rate that exceeds the lower of the rollback rate or the effective tax rate.