Property owners within the Del Mar College tax district can expect a decrease in their property tax rates for the coming fiscal year.
At the board’s Sept. 12 regular meeting, regents unanimously approved a property tax rate of 0.237, down from 0.266 from the previous year.
Though property evaluations are expected to be higher than last year, the change in tax rate is expected to lead to a decrease of $2 in the average per household property tax. Overall, the college is expecting total tax revenue to be around $85.9 million, a 2.58 percent decrease from last year.
The college is expecting increased funding through the state government as a result of recently approved college-funding reforms signed into law in June. College President Mark Escamilla estimated that community colleges across Texas expect $683 million in increased funding as a result of the state’s new outcomes-based funding model.
“This is a major boost that will benefit students who are starting careers and raising families in our state,” Escamilla said.
Shortfalls in industrial tax revenue caused a reduction in June’s projected maintenance and operation budget of $118.8 million, down to only $115.2 million in the budget approved by the board on Aug. 15.
These shortfalls have forced the college to tighten its belt in some areas, such as in faculty salaries and wages, but have not seemed to affect the short-term goals of the college administration.
President Mark Escamilla stated that “the goals for the college are to: complete all construction and renovation projects, continue implementation of technology upgrades that improve the student experience, such as our new customer relationship management system, called Anthology, adopt and put into practice our new strategic plan for 2024-2029 and adjust to new state funding for our programs made possible by House Bill 8.”
According to Escamilla, the approved budget allows the college to “achieve the goals outlined above, while also allowing for flexibility in timelines.”
The Del Mar College Board of Regents will hold its next regular meeting on Oct. 3. The meeting will be held at the Center for Economic Development and can be watched live on the college’s website at www.delmar.edu/webcast.