Posted 2:23 am Tuesday, April 24, 2012
Send to Kindle
Town Hall On TJC Bond Proposal Set Tonight
By EMILY GUEVARA
Staff Writer
A town hall meeting about Tyler Junior College’s $25 million bond proposal will be held tonight.
Staff Writer
A town hall meeting about Tyler Junior College’s $25 million bond proposal will be held tonight.
The meeting is scheduled for 6 p.m. in the Family Learning Center at Tyler ISD’s Douglas Elementary School, 1508 N. Haynie Ave. The public is invited to attend.
TJC President Dr. Mike Metke is expected to lead the discussion that will focus on the college’s bond proposal, which is on the May 12 ballot.
TJC President Dr. Mike Metke is expected to lead the discussion that will focus on the college’s bond proposal, which is on the May 12 ballot.
The proposal asks voters to approve the issuance of $25 million in bond money to fund the construction of a nursing and health sciences building on the college’s main campus.
Although the estimated cost of the project is about $50 million, the college plans to fund half of it with the bond money and the other half with student user fees and private donor support. TJC has about $20 million in collected student fees and private donor pledges toward its $25 million goal.
Although the estimated cost of the project is about $50 million, the college plans to fund half of it with the bond money and the other half with student user fees and private donor support. TJC has about $20 million in collected student fees and private donor pledges toward its $25 million goal.
The bond proposal’s estimated tax rate impact ranges from just under 1.5 cents per $100 valuation to more than 2 cents per $100 valuation. The variation depends upon the bond’s maturity date. The college’s estimates go from 15 to 30 years in five-year increments.
If the college went with a 30-year amortization, the owner of a $100,000 home would see an annual increase of almost $15 in the tax rate.
If the college went with a 30-year amortization, the owner of a $100,000 home would see an annual increase of almost $15 in the tax rate.
If the college went with a 15-year amortization, the owner of a $100,000 home would see an annual tax rate increase of more than $21.
The owner of a $100,000 home pays about $182 in TJC property taxes under the current tax rate, which is more than 18 cents per $100 valuation.
The average home value in the TJC tax district was $126,221 as of July 2011.
The tax rates estimates are subject to change with interest rates.
For more information, visit www.tjc.edu/bondproposal.
The owner of a $100,000 home pays about $182 in TJC property taxes under the current tax rate, which is more than 18 cents per $100 valuation.
The average home value in the TJC tax district was $126,221 as of July 2011.
The tax rates estimates are subject to change with interest rates.
For more information, visit www.tjc.edu/bondproposal.
