Regents approve tax rate

by Darin Allred | Sep 29, 2015 <p> </p>

The Board of Regents of the North Central Texas Community College District voted unanimously to adopt the ad valorem effective tax rates for 2015 at a special meeting Monday night.

Approved was a combined tax rate of 0.121300 for 2015, comprised of the Maintenance and Operations (M&O) tax rate of 0.0811 per $100 valuation, and the Interest and Sinking (I&S) tax rate to be set at 0.0402 per $100 valuation.

The adopted tax rate will raise more taxes for maintenance and operations than last year's tax rate. The M&O tax rate will effectively be raised by 4.93 percent and will raise taxes on a $100,000 home by approximately $5.70.

The I&S tax rate represents the rate required for the general obligation bond that was approved by voters in November 2013.

All board members were present for Monday's meeting.