EAC File Photo: EAC is reducing its tax rate. However, since property value assessments are up, the college will still see an increase in revenue from the property tax.
By Kris McBride/EAC
THATCHER – Eastern Arizona College (EAC) has proposed a lower tax rate for the 2023 budget year to the Graham County Community College District Governing Board (Governing Board). The reduction in the College’s tax rate was made possible because the overall assessed value of property in Graham County has increased over the past year, having a net effect of providing additional revenue for EAC. The Governing Board will decide whether to act on EAC’s recommendation at its June board meeting.
“Our community continues to grow at a rapid pace,” said Todd Haynie, EAC president. “As a result of this economic growth, the tax burden for local government can be spread over a much larger tax base. This means that EAC can reduce the tax rate and still generate $148,499 of much-needed revenue for the college.”
Because the assessed property value has increased county-wide, the tax rate will drop from $3.09 to $2.71, representing a .38 cent reduction from last year’s rate. Because the reduced rate will generate additional funds, statutory language refers to this as a tax increase, when in fact it is a tax rate reduction.
“We are reducing the tax rate and property owners will pay less if their assessed valuation has not changed. At the same time, we are raising more for higher education which benefits the community.”
The Truth in Taxation Notice will be posted in the Eastern Arizona Courier on May 25 and June 1. For more information about EAC’s proposed 2022-2023 budget, please click here.
“Eastern Arizona College adds almost a quarter-billion dollars to our economy every year. It is estimated that for every dollar of public money invested in EAC, taxpayers will receive $1.90 in return over the course of students’ working lives. The additional funding from this proposal brings even more value to the community, allowing EAC to continue preparing students for the most in-demand careers that provide family-sustaining wages.”
The public is invited to send comments on EAC’s recommended tax rate reduction to board@eac.edu. Members of the public can also provide comments at the Governing Board meeting on Thursday, June 9 at noon at the Eastern Arizona College Student Services Building, Governing Board Room, 615 N. Stadium Ave., Thatcher, Arizona.
Enroll Today in EAC Summer Classes: Classes begin on May 31. Call EAC’s Financial Aid Office at (928) 428-8287 for details. Register by calling EAC’s Records and Registration Office at (928) 428-8270, or online at www.eac.edu.
About Eastern Arizona College:
Eastern Arizona College – the first community college in Arizona – has helped students achieve their dreams since 1888. With campuses in Thatcher, Globe, and Payson, EAC’s qualified and caring instructors prepare students for the most in-demand careers and advanced study at universities. EAC offers more than 80 certificates and degrees, including the #1 nursing school in Arizona, a fine arts program featuring the only marching band in Arizona, and an engineering program that brings students up to speed for success at universities and top-tiered firms. Students thrive at EAC, making friendships that last a lifetime. EAC’s vibrant student experience includes on-campus housing, more than 30 clubs and organizations, active intramurals, and nationally ranked athletic and e-sports teams. At EAC, most students leave with $0 debt. Let EAC provide an affordable way for you to claim your dreams. Contact admissions@eac.edu or call (928) 428-8272 today.
