The Independence Community College Board of Trustees approved the College’s 2027 budget Monday, continuing ICC’s commitment to responsible financial stewardship while remaining below the revenue neutral rate.
The approved budget means ICC will not seek additional property tax revenue from local taxpayers for the coming year despite the continued increase in costs associated with operating the College.
“We’re working really hard this year to provide the same level of excellence and all the things listed out in our mission and vision while still maintaining our revenue neutral rate,” ICC Chief Financial Officer Dottie Good said. “That means we are collecting almost the same amount in property taxes as the prior year.”
The revenue neutral rate is the tax rate that would generate the same amount of property tax revenue for a taxing entity as the previous year, excluding revenue associated with new construction and certain other statutory adjustments. By adopting a budget below that rate, ICC continues to balance the financial needs of the College with its responsibility to the taxpayers who support it.
For members of the Board of Trustees, that commitment to taxpayers remains an important part of the College’s budgeting process.
“I want to thank our ICC team for their tireless work in crafting a budget this year without raising taxes on the communities we serve,” said Board Chair John Eubanks. “Their diligence and creativity reflect our shared commitment to being good stewards of taxpayer funds, and I'm proud of what our employees have accomplished together.”
The budget was approved following the College’s public budget hearing Monday. No members of the public spoke during the hearing.