The San Jacinto College board of trustees approved an about $0.01 year-over-year drop for its fiscal year 2023-24 tax rate on Oct. 2.

The breakdown

SJC’s board of trustees approved the college system’s proposed tax rate of $0.146195 per $100 valuation for FY 2023-24 during an Oct. 2 board meeting. The adopted tax rate is about 6% less than the FY 2022-23 tax rate of $0.155605 per $100 valuation, according to an Oct. 3 news release.

The tax rate is made up of:
  • A maintenance and operations tax rate—which funds a general fund budget, according to the Texas Education Agency’s website—of $0.099152
  • A debt service tax rate—which pays for funds owed from bonds, according to the TEA—of $0.047043
Why it matters

While the FY 2023-24 tax rate is less than the FY 2022-23 tax rate, the average home value has increased by about 9%, as previously reported by Community Impact.
  • The average home in SJC’s boundaries is worth $170,800 for FY 2023-24 compared to $157,169 for FY 2022-23.
  • The average taxpayer is expected to pay $249.70 in taxes for FY 2023-24 with a homestead exemption of 5% compared to $244.56 in FY 2022-23, when the maximum homestead exemption was 1%, according to the release.