A town hall meeting about Tyler Junior College’s $25 million bond proposal will be held tonight.
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.
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.
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.
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.