The college approved a tax rate of $0.081222 per $100 valuation for fiscal year 2019-20 during an Aug. 27 board meeting. This is the second year in a row the college has operated at this tax rate. Before FY 2018-19, the college was operating at a slightly lower rate of $0.07981 per $100 valuation.
An average Collin County household will pay $305.52 in property taxes to Collin College this year. This number is based on the average home value of $376,164, according to the 2019 homestead market value.
During the meeting, the college also adopted its FY 2019-20 general fund budget, which totals $212.5 million. Slightly more than $118.6 million of this budget comes from property tax revenue, according to the college.
The budget includes operating expenses, maintenance, employee salary increases, hiring of new staff members and more.