Amarillo College Tax Hike Backfires | Amarillo News

Amarillo College faces a tricky financial tightrope: raising property taxes by 13.5% to 24.67 cents per $100 of assessed value won’t cover its shortfall — because overall taxable property values have dropped nearly $150 million due to new tax caps for seniors and disabled homeowners. Even with the hike, the college expects a $1 million revenue gap, bringing in just $35 million total — a shortfall already factored into their budget. Compounding the issue, state funding is shrinking, forcing the college to maintain services while cutting $5 million from expenses. The Board of Regents approved moving the tax proposal to a public hearing (Aug. 25), though two members voted against it — signaling deep internal debate over whether this move will actually solve their cash crunch. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/53f5e65b121cdab5