Collin College Board of Trustee members voted tonight to lower the college district’s ad valorem tax rate. The rate is the second-lowest in the state among community colleges in Texas.
Trustees approved a tax rate of $0.079810 cents per $100 in property value, with a maintenance and operations tax levy of $0.077118 and a debt service tax levy of $0.002692. The rate is a reduction of 1.7 percent compared to last year’s rate, continuing the district’s 18-year tradition of either maintaining or lowering its tax rate.
Collin County’s sustained growth continues to fuel its tax base, allowing the district to lower its tax rate while meeting the educational needs of its population. The tax base has grown by double digits for the past two years in a trend that is not expected to slow.
“Collin College continues to be a good steward of taxpayer funds, balancing the needs of a growing population with a fiscally-conservative mindset which our residents expect,” said Dr. Robert Collins, Board of Trustees chairman and founding board member. “We believe this tax rate will serve the district’s needs as it looks toward a brighter future for our students and communities.”
That future includes the construction of a new campus in Wylie, a technical center in Allen, educational centers in Celina and Farmersville, and programs designed to improve the area’s workforce readiness, and greater outreach to underserved populations in the district’s service area.
“We are committed to providing affordable educational opportunities for every student in our service area. This tax rate will allow us to continue our managed growth without interrupting the high level of service our students and communities have come to expect,” District President Dr. Neil Matkin said. “To be able to provide that level of service while also reducing the tax rate is a testament to the leadership of our Board of Trustees and to the hard work of our staff in carrying out their directives.”
Collin College serves more than 53,000 credit and continuing education students annually and offers more than 100 degrees and certificates in a wide range of disciplines. The only public college in the county, Collin College is a partner to business, government and industry, providing customized training and work force development. In addition, the college operates the Collin Higher Education Center, which serves 3,100 additional students each year in partnership with The University of Texas at Dallas, Texas Woman’s University, Texas A&M Commerce, Texas Tech and the University of North Texas.