Notice of Adopted 2016 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 2.71 PERCENT AND WILL RAISE TAXES FOR MAINTENANCE AND OPERATIONS ON A $100,000 HOME BY APPROXIMATELY $-0.35.
*Note: The total tax rate adopted for 2016 is 0.100263 which is 1.6% less than the previous year’s tax rate of $0.101942. To comply with Chapter 26 of the property tax code, because the total tax rate exceeds the total Effective Tax Rate for 2016, two public hearings were held. The 2016 tax rate for maintenance and operations is $0.075277 per $100 of assessed valuation. The debt service tax rate is $0.024986 per $100 of assessed valuation.
Notice of Tax Revenue Increase
The Houston Community College conducted public hearings on September 22, 2016 and September 29, 2016 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 1.28 percent.
The total tax revenue proposed to be raised last year at last year's tax rate of $0.101942 for each $100 of taxable value was $188,205,152.
The total tax revenue proposed to be raised this year at the proposed tax rate of $0.100263 for each $100 of taxable value, excluding tax revenue to be raised from new property added to the tax roll this year, is $189,241,712.
The total tax revenue proposed to be raised this year at the proposed tax rate of $0.100263 for each $100 of taxable value, including tax revenue to be raised from new property added to the tax roll this year, is $193,847,556.
The Board of Trustees for 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 13, 2016 at HCC Administration Building, 3100 Main Street, 2nd Floor Auditorium at 12:00 PM.
The Board of Trustees for Houston Community College proposes to use the increase in total tax revenue for general operations and maintenance, including the operation and staffing of new buildings and locations
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 1.28 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 September 22, 2016 at 3:30 PM at HCC Administration Building, 3100 Main Street, 2nd Floor Auditorium.
The second public hearing will be held on September 29, 2016 at 12:00 PM at HCC Administration Building, 3100 Main Street, 2nd Floor Auditorium.
The members of the governing body voted on the proposal to consider the tax increase as follows:
|FOR:||Dr. Adriana Tamez
|Dr. Carolyn Evans-Shabazz
Dr. John P. Hansen
Eva L. Loredo
|AGAINST:||Robert Glaser||Dave Wilson|
|PRESENT and not voting:|
|ABSENT:||Christopher W. Oliver|
The average taxable value of a residence homestead in Houston Community College last year was $244,929. Based on last year's tax rate of $0.101942 per $100 of taxable value, the amount of taxes imposed last year on the average home was $249.69.
The average taxable value of a residence homestead in Houston Community College this year is $265,262. If the governing body adopts the effective tax rate for this year of $0.099000 per $100 of taxable value, the amount of taxes imposed this year on the average home would be $262.61.
If the governing body adopts the proposed tax rate of $0.100263 per $100 of taxable value, the amount of taxes imposed this year on the average home would be $265.96.
Members of the public are encouraged to attend the hearings and express their views.
Effective and Rollback Tax Rate Calculations
2016 Property Tax Rates in Houston Community College
This notice concerns the 2016 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||$139,629,827|
|Last year's debt taxes||$48,575,325|
|Last year's total taxes||$188,205,152|
|Last year's tax base||$184,619,834,808|
|Last year's total tax rate||$0.101942/$100|
This year's effective tax rate:
|Last year's adjusted taxes (after subtracting taxes on lost property)||$186,859,718|
|÷ This year's adjusted tax base (after subtracting value of new property)||$188,745,312,028|
|=This year's effective tax rate||$0.099000/$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)||$138,334,532|
|÷ This year's adjusted tax base||$188,745,312,028|
|=This year's effective operating rate||$0.073292/$100|
|x 1.08=this year's maximum operating rate||$0.079155/$100|
|+ This year's debt rate||$0.024986/$100|
|= This year's total rollback rate||$0.104141/$100|
Statement of Increase/Decrease
If Houston Community College adopts a 2016 tax rate equal to the effective tax rate of $0.099000 per $100 of value, taxes would increase compared to 2015 taxes by $3,200,532.
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|
Schedule B - 2016 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 Bonds, Series 2011||6,150,000||4,380,250||0||10,530,250|
|Limited Tax G.O. Bonds, Series 2013||3,995,000||17,461,328||0||21,456,328|
|Limited Tax Refunding Bonds, Series 2016||0||808,192||0||808,192|
|Maintenance Tax Notes, Series 2006||590,000||227,925||0||817,925|
|Maintenance Tax Notes, Series 2008||2,480,000||192,500||0||2,672,500|
|Maintenance Tax Notes, Series 2009||865,000||374,419||0||1,239,419|
|Maintenance Tax Notes, Series 2010||2,175,000||1,794,425||0||3,969,425|
|Maintenance Tax Notes, Series 2011||1,575,000||1,717,325||0||3,292,325|
|Maintenance Tax Notes, Series 2011A||785,000||801,325||0||1,586,325|
|Maintenance Tax Refunding Bonds, Series 2016||0||1,168,476||0||1,168,476|
|Total required for 2016 debt service||$47,541,165|
|- 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 2016||$47,541,165|
|+ Amount added in anticipation that the unit will collect only 98.41% of its taxes in 2016||$768,118|
|= Total debt levy||$48,309,283|
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 Street, 12th Floor, Houston TX 77002. Name of person preparing this notice: Teri Zamora Title: Sr. Vice Chancellor Finance and Administration Date Prepared: 09/01/2016
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.