Weatherford College board of trustees adopted a lowered tax rate during their meeting on Thursday afternoon in the Doss Student Center.
The adopted tax rate is $0.11495 per $100 valuation, a decrease from the previous rate of $0.11947.
Trustees have decreased the tax rate in four of the past five years, according to a WC press release.
Board Chairperson Mac Smith said the board is pleased to set the current tax rate and budget, which is expected to bring opportunities to the college.
“Of course the tax rate is very important because it really reflects a huge amount of money on that budget,” Smith said. “We like to keep it as low as we can, but we have to be practical and set a rate that is effective for all of our goals and all of our programs.”
Smith shared his appreciation of the efforts to operate Weatherford College, including the locations in other counties, and his fellow trustees.
Trustees also adopted a balanced budget of about $60.26 million.
During the meeting, WC Executive Vice President of Financial and Administrative Affairs Andra Cantrell said only one change had to be made to the budget to fund legislative advocacy, meaning membership in state education associations. More than $3,000 was decreased from dues and subscriptions to increase the same amount in legislative advocacy.
This year’s budget has increased by $4.26 million compared to last year, Cantrell said in a previous budget meeting. The budget includes a 4 percent raise for all full-time faculty and 8 percent for overload and adjunct faculty as well as $2 million for repair and rehabilitation of campus facilities.
Parker County homeowners may see a decrease in their yearly tax bills of about $10 on average based on the average homestead values, Cantrell said earlier this month.
The next regular board meeting takes place on Sept. 12.