HC trustees adopt FY 2017-2018 budgets, tax increase

Staff Writer

Howard College trustees adopted the FY 2017-2018 tax rate and budgets for Howard College and the SouthWest Collegiate Institute for the Deaf during their meeting on Monday.
The adopted tax rate is .314285 per $100 valuation, up just slightly from the expiring rate of .313798 per $100 valuation. The tax hike is projected to draw in about 2.11 percent more in tax revenue — or in actual figures $226,133 — over the previous year, college officials said. Taxes are expected to increase by $10 on the average house valued at $74,676.
Also, trustees adopted the FY 2017-2018 budgets of $42.9 million for Howard College and a $5.1 million for the SouthWest Collegiate Institute for the Deaf.
Those budgets will include a $1.5 million combined planned deficit which will be used to pay for several one-time expenses. The designated projects will be paid from the college's projected surplus from the this year's budget which will end Thursday.

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