Panola College Board lowers 2026 property tax rate

Panola College is continuing its commitment to responsible stewardship of taxpayer and student dollars, adopting a lower property tax rate for 2026 while keeping tuition and fees steady and maintaining its focus on high-quality educational opportunities, facilities, and a safe learning environment.

Following a public hearing on August 25, the Panola College Board of Trustees unanimously approved a 2026 property tax rate of $0.27661 per $100 of taxable value, or 27.661 cents. The rate represents a 5.77% decrease from the College’s current tax rate and matches Panola College’s calculated no-new-revenue tax rate.

The no-new-revenue rate is designed to generate approximately the same amount of property tax revenue from properties taxed in both the current and previous year. Revenue generated from new properties added to the tax rolls is not included in that calculation.

“In a time when families are carefully watching every dollar, we believe it is important for Panola College to demonstrate that same level of care with the resources entrusted to us,” said Dr. Jessica Pace, President of Panola College. “Our goal is to remain affordable for students, responsible to taxpayers, and focused on providing the quality education, facilities, and student support our communities expect from Panola College.”

Community colleges rely primarily on three sources of revenue: student tuition and fees, state funding, and local property taxes. That balance has become especially important for Panola College as it plans for the FY 2026-2027 year. The College is receiving approximately $1 million less in state funding than anticipated for FY 2026-2027, while also keeping current tuition and fee levels unchanged.

“Adopting the no-new-revenue tax rate reflects the Board’s commitment to balancing the needs of our students and College with our responsibility to the taxpayers who support Panola College,” said Kevin Smith, Chair of the Panola College Board of Trustees. “We plan to continue investing responsibly in the education, facilities, and services that benefit our students and the communities we serve.”

For an average homestead with a taxable value of $110,009, the College’s portion of the property tax bill would be approximately $304.30 before applicable exemptions.

The effect on an individual taxpayer’s bill will vary depending on the property’s taxable value and any exemptions for which the owner qualifies. Because property values can change from year to year, a lower tax rate does not necessarily mean every property owner will see a lower total tax bill.

Through careful budgeting and long-term planning, Panola College remains focused on preserving access and affordability while providing students with a quality education, meaningful credentials of value, wraparound student supports, and well-maintained facilities.