Wise County commissioners Wednesday set the college branch maintenance tax at 4.6148 cents per $100 valuation for the 2012-2013 school year.
College officials were hoping for 5 cents, which is the maximum that is allowed.
“I always respectfully ask that we go to the nickel, but I understand your position,” said Dean Duane Durrett.
Durrett told commissioners that the college’s funding comes from taxes, the state, and tuition and fees.
“These are the three ways we have of creating revenue,” he said.
He told the Messenger Friday that colleges are facing the same state cutbacks as public education, but “the college thought it was time to just hold steady on tuition and fees.”
He said in Wednesday’s meeting they understand the economic strains students and parents are facing.
The tax is projected to generate $3,285,400 at the approved rate. The county collects the tax and turns it over to the college.
The college uses that money to pay the county $2,272,094 in rent. The county then uses the rent payment to make payment on bonds, the sale of which paid for construction of the campus.
The college will use the remaining $1,013,306 for operating expenses.
The budget for Weatherford College Wise County totals $5.6 million.