Each individual entry is a single program reported by a single jurisdiction in a given fiscal year. Because we want to track the level and quality of disclosure as well as the content, the values below -- with the exception of program names -- are entered exactly as they are reported. See our user guide for more explanations.
| State: | Texas |
| Effected Jurisdiction: | Kermit Independent School District |
Jurisdiction type: | School district |
| Fiscal year ending In: | 2019 |
| Program name: | Value Limitation Agreement |
| Program purpose: | General Economic Development |
| Statutory authority: | Texas Economic Development Act (Tax Code 313) |
| Abating jurisdiction(s): | Kermit Independent School District |
| Applicable taxes: | Property Tax |
| Method of abatement: | Reduction of Taxable Property Value; Payment In Lieu of Taxes (PILOT) |
| Provisions for recapture: | (not specified) |
| Gross revenue loss: | $1,066,033 |
| Reimbursement / offset: | $506,825 |
| Net revenue loss: | $559,208 |
| Type of loss: | Active |
| Additional notes on dislosure: | Gross revenue loss noted here is the sum of forgone tax revenue and Tax Credits. CAFR does not disclose the amount of state funding that is to be provided. Agreement made in 2008. |
