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.

Document: 2023-2024 Budget Hearing and Budget Summary

Stu Osterthun
Administrative Director of Marketing & Communications