East Central College’s Board of Trustees voted to maintain the current tax levy at its meeting Monday, Aug. 28.
The proposed operating tax levy for 2017 is .3700 cents per $100 in assessed valuation the proposed debt service levy is .0841 cents per $100 in assessed valuation.
“We promised the taxpayers that we’d never go higher than .0841 and that is the number we have,” said Vice President of Finance and Administration Phil Pena.
The tax rates are subject to change based upon actions by county board of equalization the State Tax Commission, subsequent information, applicable law and certification by the state auditor.
The tax rates is set to produce revenues of at least $6,392,834, roughly $100,000 more than last year’s revenue. The debt service levy is set to produce revenues of at least $1,500,000, which is required to meet the debt service of ECC for the calendar year.
ECC’s assessed valuation rose by 3.5 percent this year, or roughly $57 million.