Victoria College
Victoria College’s Board of Trustees approved the college’s operating budget and set the property tax rate for the 2025-26 fiscal year following a public hearing on Monday, Aug. 11.
The property tax rate was set at 18.32 cents per $100 of taxable value. Based on the Victoria Central Appraisal District’s certified property tax values for 2025, a homeowner with a $100,000 home in Victoria College’s taxing district will pay $183.20 before exemptions.
VC’s operating budget is funded primarily through tuition and fees, property taxes and state appropriations. Recent board workshops on July 21 and August 4 included discussions focused on significant challenges to the upcoming year’s operating budget, including a tuition and fee freeze set by the governor, an eight-percent increase in health insurance premiums and a reduction in state formula funding.
“While these challenges are beyond our control, we are committed to ensuring a balanced budget that allows the college to meet its mission and vision,” said Bland Proctor, VC Board Chair. “Developing a lean budget is our standard practice, and I commend staff for the extra effort they made to identify cost savings including cutting travel expenses, delaying the hiring of vacant positions and other cost-cutting measures.”
Proctor commended VC staff for their commitment to building a cost-effective budget despite significant challenges.
“This year’s budget challenges were intensified by the tuition and fee freeze, a significant increase in health insurance premiums and decrease in state formula funding,” said Proctor. “These factors collectively gave us no choice but to propose a small property tax rate increase to balance the budget and maintain the quality of education and services our community expects and deserves.”