Read the “Resolutions of the Ranger College…Proposed Tax Rate…” carefully.
“…a future rate increase in taxes of more than 2.99 % will require /a public hearing and any increase more than 7.99% would be subject to a ….vote.”
“….after the initial rate of $.11/$100 valuation is adopted, without…..a roll back election, it would require 20 years to reach the level of $.50 allowed by the state. “
A tax rate of $.11 /$100 would add $110 per year for a home valuation of $100,000.
A tax rate of $.50/$100 would add $500 per year for a home valuation of $100,000.
Without voter approval, if the rate was increased 7.98% per year, in 8 years the tax rate would almost double to approximately $.20/$100 (or $220 for $100,000 home in above example). As stated in the “Resolutions”, in 20 years the rate could reach $.50/$100 with voter approval. Read the small print if you want to know the full implications.
Pat J Jones