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Kermit ISD board adopts 2024–25 budgets and sets $1.0402 tax rate
Summary
Trustees unanimously approved the district's 2024'25 budgets for General, Food Service, Debt Service and Capital Projects funds and adopted a combined tax rate of $1.0402 per $100 valuation (M&O $0.7051; I&S $0.3351).
Kermit ISD trustees voted unanimously Aug. 29 to adopt the district's 2024'25 budgets and set the tax rate for the coming year. Ms. Gayle Fuqua presented recommended budgets for Fund 199 (General Fund), Fund 240 (Food Service), Fund 599 (Debt Service) and Fund 699 (Capital Projects); Trustee Ricky Morales moved to adopt the budgets and Trustee Ramiro Antillon seconded the motion, which carried unanimously.
The board also adopted a combined tax rate of $1.0402 per $100 valuation: $0.7051 for Maintenance and Operations (M&O) and $0.3351 for Interest and Sinking (I&S). "A tax rate of $.7051 per hundred dollars valuation for Maintenance and Operations (M & O) and a tax rate of $.3351 per hundred dollars valuation for Interest and Sinking (I & S), for a total tax rate of $1.0402 per hundred dollars valuation," Ms. Fuqua presented. The adoption occurred by motion of Trustee Ramiro Antillon with a second by Trustee Aaron Hardaway and a favorable unanimous vote.
The actions finalize spending authority and the district's local property tax levy for fiscal year 2024'25. No amendments or dissent were recorded in the minutes; the items were presented as routine budget and tax-rate approvals required to open the fiscal year.
