After setting the tax rate in August, the Kilgore College Board of Trustees officially adopted an unchanged tax rate for the 2018 fiscal year.
The tax rate for the 2017-2018 tax year, which began Sept. 1, will remain steady at 17.5 cents per $100 value.
The rate is below the effective rate, Joe Carrington, chair of the board’s investment, financial and audit committee chair, said.
Carrington made the motion to approve the tax rate by resolution, which was seconded by trustee Scott Andrews and approved unanimously Monday.
The tax rate will raise an estimated $6.2 million of the budget’s revenue from the tax base of $3.65 billion and will help fund a $42.83 million operating budget, which was approved during the August board meeting.