If your property tax rate goes up exorbitantly next year, it probably won’t be Metropolitan Community College’s fault.
The Metro board Tuesday night kept its tax rate at 9.5 cents per $100 of property value, or $142.50 on a $150,000 house.
The last time Metro raised its property tax rate was in 2013-14, when the rate went up by a penny per $100 of assessed property value.
A homeowner’s property tax contribution to Metro will still go up if the house’s valuation rises, even as the tax rate stays the same. Metro expects its property tax revenue from its four-county region to rise about 5.3 percent.
The board approved the 2018-19 budget during its monthly meeting on the Fort Omaha campus in northeast Omaha.
Metro’s general fund budget will rise in 2018-19 to $112.8 million, up 3.4 percent from $109.1 million in 2017-18.
Metro’s primary sources of revenue for its general fund — the day-to-day operating expenses of the college — are property taxes, state money and tuition.
The college expects its general fund to receive about $50 million from property taxes, $26.5 million in state money and $28 million from tuition and fees. Other sources of money include grants, investments and some others.