KC Board of Trustees unanimously approved to keep the tax rate the same after having two public hearings to discuss the rate: 15.40 cents per $100 valuation.
KC’s tax revenue is expected to increase 3.65 percent due to new property and a 4.68 percent increase in the KC’s tax base with the same tax rate as last year’s.
Last fiscal year, KC’s tax revenue was $5,874,326. It is expected that the fiscal year 2012 tax revenue will be $6,137,209, an increase of $262,883.
KC’s tax revenue is expected to bring in 15 percent of the college’s revenue. The remainder comes from tuition, the state and a variety of fees.