Administrators at the Maricopa County Community College District have asked the district board to increase the property tax rate to bring in an additional 2% in revenue, or about $7.5 million a year. The current tax generates $360 million a year.

The college system needs the additional funds to cope with increased enrollment and to staff the new facilities being built with proceeds from $951.4 million of general obligation bonds approved by voters in 2004.

Trustees will meet tonight to consider the higher property rate, which would raise taxes on a $100,000 home in the district by $1.52 a year.

The college district serves more than 260,000 full- and part-time students at its 10 campuses across Maricopa County. Property taxes account for almost 60% of its annual operating budget of $642 million.

The district’s debt is rated triple-A by all three major credit-rating agencies.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.