The Amarillo College Board of Regents approved a first reading of a proposed tax rate increase during their meeting this week.
On Tuesday, the AC Board of Regents voted to accept a tax increase of just over 2 cents above the current rate. The new rate, $0.22790 per $100 valuation, will be increased from the current rate of $0.20407 per $100 valuation. According to the board, the accepted tax increase will be due to the narrow passage of an $89 million bond package for the college district earlier this year.
Amarillo College board chairman Paul Proffer praised the bond and tax increase, saying the bond package shows how the district serves the Amarillo community.
“We have our own specific purpose in this city, which is to train the future workforce here so we can continue to grow, and we can continue to attract industry to our community,” Proffer told Amarillo Globe-News. “This bond and the projects that we will be able to complete will help us continue to grow. Amarillo is growing right now, and we want to continue to be a part of that.”
The board of regents will consider additional readings of the proposed tax increase on August 27 and September 1. Final approval of the tax increase is expected to be slated for the board’s September 24 meeting.