LSC Chief Financial Officer Jennifer Mott said the college built a 6% growth rate in appraisals into the fiscal year 2020-2021 budget, which factors into keeping the tax rate the same for FY 2020-21.
"In a 15-year history of the tax rate, Lone Star College has consistently been below the state average," Mott said. "We have held it pretty flat at $0.1078 for several years now."
LSC has maintained the same tax rate since fiscal year 2016-17, when the tax rate was $0.1079.
Mott said local property taxes are the largest revenue source for the college and are set to make up around 46% of the FY 2020-21 budget's total revenue. The college's adopted budget shows a decrease of around $14.6 million from FY 2019-20, which factors in a decrease of student enrollment and expenses related to the coronavirus pandemic.
No action was taken on the proposed tax rate. It is expected to be adopted at an Oct. 8 meeting.