HOT SPRINGS — The National Park Community College board of trustees officially voted Wednesday to move forward with seeking a special election in April for a 1.7-mill increase.
The board approved a motion to seek an increase of the college’s millage from 0.8 mill to 2.5 mills. Trustee Ray Donathan cast the only dissenting vote.
College President Sally Carder met with college officials, committee members and board members Tuesday to outline details of the proposed millage increase.
The 0.8 mill currently afforded to the college provided $1,293,497 in 2011-12. Two mills provided about the same amount of money in 1973. Enrollment is now 3,566, compared with just 500 in 1973.
Amendment 59 of the Arkansas Constitution limits growth in property taxes by reducing an institution’s mills when assessed property values rise.
National Park Community College’s mills have been reduced with the growth of Garland County. Amendment 59 will affect a potential new millage increase by decreasing the college’s mills to realize the tax revenue allowed by law if Garland County assessment values rise in the future.
A Garland County resident with property valued at $100,000 currently pays $17 in taxes for the college each year. That would increase to $50 at 2.5 mills, which is estimated to provide $4 million to National Park Community College.
The millage increase would fund annual bond indebtedness, maintenance, operations of a new facility, and new equipment and technology.
A possible date for the election is April 9.
Arkansas, Pages 12 on 11/30/2012