The City's fiscal year is October 1 to September 30.
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The development of the budget begins in the fall of each year when the Council and City Manager establish priorities for the upcoming budget reflecting policy and program concerns of the community at large. In the spring of each year, the City Manager develops a budget calendar and instructs department heads to submit their proposed budget requests.
The City Council discusses the proposed budget during public hearings and adopts a new budget prior to October 1st.
The 2018 property tax rate is 0.539 cents per $100 of valuation.
The 2015 average market value for a home in Kilgore, Gregg County is $116,998 with a taxable value of $92,865.
The 2015 average market value for a home in Kilgore, Rusk County is $103,395 with a taxable value of $83,037.
The sales tax rate for Kilgore in Gregg County is 8.25%. The rate for Rusk County is 7.75%. Of these rates, 6.25% is State sales tax, 1.0% is City, and 0.5% is Economic Development. The County of Gregg collects 0.5%. The County of Rusk does not collect a sales tax.
The city collects 7% of the room rate. The city uses up to 15% of these revenues to fund a grant program for the arts. The remainder of these funds are used in compliance with Chapter 351 of the Texas Tax Code to fund historic preservation projects, sports tourism projects, and to promote the hotel, convention, and tourism industry in Kilgore.