LCC To Raise Taxes 7.05 %.....That Sounds Good for Economic Development

Looks like the board at LCC is the first to propose raising taxes again.  Last time was a year or so ago.  Before that, LCC had not raised taxes for years.  I wonder why in the last two years the rush to raise taxes?

This time the increase in the tax rate will be 7.05%, and I love this part of the notice where it defines how the 7.05% is figured:  (percentage by which proposed tax rate exceeds lower of rollback tax rate or effective tax calculated under Chapter 26,Tax Code).  Anybody know what that means?

Here is the meat for homeowners:

The average taxable value of a residence homestead in LAREDO COMMUNITY COLLEGE last year was $124,682. Based on last year's tax rate of $0.238120 per $100 of taxable value, the amount of taxes imposed last year on the average home was $296.89.

The average taxable value of a residence homestead in LAREDO COMMUNITY COLLEGE this year is $123,301. If the governing body adopts the effective tax rate for this year of $0.241520 per $100 of taxable

value, the amount of taxes imposed this year on the average home would be $297.80.

This is where they show you that because property values have devalued slightly, and that the new tax rate for this year is higher than last that they are only going to make $.89 off a $123,000 home.

If the governing body adopts the proposed tax rate of $0.258541 per $100 of taxable value, the amount of taxes imposed this year on the average home would be $318.78.

Here they show you that they will make an additional $20.98 per average home.

Now $20 may not sound like much to you regular home owners, but just think if you have a little ol warehouse worth $5 million.  Well now you are going to pay an additional $835 annually to a $12,000 LCC tax bill.  Now, again, that may not sound like much, but it adds up when figuring cost of doing business in Laredo.   And this may just be the beginning of the local tax increases the school districts and city may propose.

I guess all that new building is catching up with LCC.  This is another tax increase we do not need.  The LCC board needs to explain this in detail to the community.