The NEW $1250.00
The public is starting to see that the mantra that the new Community College tax will only be $13 is a bit of a hoax. The first year board, which is appointed, not elected, can set the College’s budget significantly higher than what EITC has historically spent.
There are eight categories of new taxes they can set without a further vote of the public, and four have no statutory limits. We project the first year tax increase could be around $110 to $125 per year for the average home owner.
But let’s suppose that this is the rare time where one outside group’s non-binding estimate of $13 is actually what the future appointed board chooses to start with (not likely, but go with it for a minute). A $13 per year increase in property taxes for the average homeowner will give the Community College about $851,000 in new revenue each year.
If the Community College’s current enrolment is 700 students, this equates to a brand new property tax subsidy of about $ 1215.00 per student each year! No wonder the proponents are touting that students who go to this new Community College can see a cheaper tuition rate than going to a ISU- you and I will be paying a new tax of about $1215.00 per student! That is on top of the fact that our taxes make up around half of EITC’s budget already. If student enrollment goes up, expect property taxes to go which they can automatically. Also expect bonds and levies on future ballots.
North Idaho College enrollment has plunged over 2600 students in the last few years to 6347. Their local property tax payers pay $15 million each year, or a whopping $2363.32 subsidy per student. Again, this is just in property taxes, and doesn’t include all the other taxes residents pay that flow to their College.
College of Southern Idaho has a similar financial model.