The Austin Community College board of trustees adopted a fiscal year 2017-18 property tax rate of $0.1008 per $100 of taxable value Monday evening.

The adopted rate is lower than last year's, which was $0.102 per $100. However, because of new properties and increasing property values across the district, the revenue generated by the adopted tax rate will exceed that generated by last year's.

Because of this, the adopted rate exceeds the effective rate. Per the tax code, the Austin Community College District was required to hold two public hearings before adopting this rate. They were held on Aug. 24 and 28. Notices of these hearings were published in advance.

"The Austin Community College District proposes to use the increase in total tax revenue for the purpose of providing affordable access to quality higher education and career training, improving student success and building a world-class workforce in Central Texas," the notice stated.

The adopted tax rate includes $0.09 for maintenance and operation costs and $0.0108 for debt service.

Last year, the average taxable value of a residence in the district was $293,793. Based on last year's tax rate, the amount of taxes imposed on the average home was $299.67.

This year, the average taxable value of a residence is $316,276. Based on the adopted rate, the amount of taxes imposed on the average home will be $318.81. This represents an average increase of $19.14 year-over-year.