OC close to approving tax rate
The Odessa College Board of Trustees will consider approving the 2022 tax rate at its meeting scheduled for 6:30 p.m. Tuesday in the Zant Community Hall in the center of the Saulsbury campus.
The proposed rate is 0.188643 per $100 of assessment. That’s a 6.5% drop from last year’s tax rate.
Last year’s tax rate was 0.201723 per $100 of assessment.
The no new income rate for 2022 is 0.177210 per $100 of assessment. The no-new-income rate, formerly known as the effective rate, is the tax rate you must assess to receive the same amount of income as the previous year.
At a Sept. 20 workshop, board chairman Gary Johnson said most of the ratings this year came from minerals and new construction.
Two tax rate hearings were held, but no one from the public attended or spoke.
Administrators will also consider a tax abatement for GCC, which produces cement, concrete, aggregates and innovative products for construction industries in Mexico, the United States, Latin America and Canada, according to its website.
Also on the program:
>> Review and approve First Basin Credit Union Naming Agreement.
>> A continuing education update.
>> Institutional Effectiveness Report.
>> Vision 2030 plus update.
>> President’s report includes Drive to Success Kickoff; Wrangler Overview; 30 for 30 fitness challenge; and the Permian Basin Fair.