SCC Board of Governors Approves 2023-2024 Budget
The Southeast Community College Board of Governors voted Sept. 26 to leave the property tax levy rate at 9.37 cents for a fifth consecutive year.
The action took place during the Board’s regular monthly meeting at the Milford Campus.
The levy rate of 9.37 cents per $100 of assessed valuation is comprised of 7.37 cents for the general fund and 2 cents for the capital improvement fund. The Board approved SCC’s 2023-2024 total operating budget of $342,621,430, a 1.59% decrease from a year ago.
SCC’s total 2023-2024 property tax request is $74,137,692 that includes the following separate funds:
- General Fund: The 2023-2024 property tax request for the General Fund is $58,313,211.
- Capital Improvement Fund: The 2023-2024 property tax request for the Capital Improvement Fund is $15,824,481.
The total assessed value of property throughout the College’s 15-county service area increased by 14.77%. Persons who own property in the service area have the opportunity to receive credits for the property taxes paid to SCC. They can receive a tax credit equal to 100% of 2023 community college property tax paid in 2024. The credit can be taken when people file their 2024 income tax returns in 2025.
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