Collin County residents can expect to pay the same property tax rate to Collin College for the 2024-25 fiscal year.

The gist

The college’s board of trustees unanimously approved a tax rate of $0.081220 per $100 valuation during an Aug. 27 board meeting. This is the third year in a row the college has operated at this tax rate, according to Collin County documents.


The tax rate is broken down into two pieces:


  • Maintenance and operations rate, which covers operational expenses such as payroll. The M&O rate is $0.0750 per $100 valuation


  • Interest and sinking rate, which pays for the college’s principal and interest on its debts. The I&S rate is $0.00622 per $100 valuation
Despite the college keeping the same rate, more tax revenue will be collected as a result of rising property values in the county, Chief Financial Officer Melinda Irby said. Roughly $16.6 million in additional revenue is expected to be collected, Collin College documents state, with about $7.2 million being derived from new property added to the tax roll this year.

Diving deeper

The board also unanimously approved the college’s FY 2024-25 budget at the meeting.

The budget outlines just over $400 million in revenue, including:


  • $302.4 million in unrestricted funds
  • $69.7 million in restricted funds
  • $28.1 million in interfund transfers


Collin College staff also budgeted for nearly $399 million in expenses, creating a net positive budget, according to Collin College documents.

Also of note

Collin College faculty and staff members will receive a 5% salary increase, which was unanimously approved by the board of trustees at the meeting.


The salary increase is a result of consideration of the Consumer Price Index of the past year as well as other market factors, meeting documents state. Other considerations included salaries at other similar-sized community colleges in the state and the pay rates for teachers in local school districts, Irby said at the meeting.

The 5% base salary increase will be for full-time staff, faculty and administrators of the college, as well as part-time staff.

“The cost of living has indeed gone up, real wages have gone down and the buying power has gone down. It’s very expensive to live in Collin County,” Collin College District President Neil Matkin said. “I’m grateful that this college has a board that puts their money where their mouth is, and actually looks at the entire picture and prioritizes our employees.”