Fulton Independent BOE rescinds original motion for tax rate, opts for lower compensating rate

Through action taken at a special called session Friday at noon by the Fulton Independent Board of Education, a tax rate approved at the board's regular session Aug. 20 was rescinded, and a lower compensating rate was approved for taxes.

At the Aug. 23 special called session at the board office, FIS Superintendent Dr. DeAnna Miller explained to board members present, Debbie Vaughn, Christy Pettigrew and Bill Robertson, as well as board member Carol Bransford, present via electronic communication, that during Tuesday night's regular board session the board had chosen, at her recommendation, to maintain the same tax rate as the previous year, 75.4 cents per $100 of assessed valuation on property. However, Dr. Miller said, after further review, correspondence with the state, and a review by a financial officer mentor, it had been determined that maintaining that current rate would equate to approximately $7,500 more for the district to collect.

"We can absorb that with our carry over and offer the lower rate to the citizens, and still receive the same amount from taxes," Dr. Miller said.

With that explanation, Dr. Miller went on to recommend the board rescind the previously approved rate of 75.4 cents, to approve the compensating rate of 74.4 cents per $100 of assessed valuation.

All board members present approved the recommendation.

With no further business listed on the special called session's agenda, the meeting was adjourned.