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  • Last modified 13 days ago (July 11, 2024)

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County urged not to hold line on taxes

Accountant cautions against revenue-neutral budget administrator recommended

Staff writer

One week after commissioners reviewed administrator Tina Spencer’s first budget draft and complimented her on a budget that slightly dipped below a revenue-neutral rate, accountant Scot Loyd tried Monday to persuade them to change course.

Loyd pointed out that interest rates had risen but the budget Spencer proposed didn’t take that into account when considering rates on future borrowing.

“What other resources do you have coming in to keep up with these increases?” Loyd asked.

He challenged commissioners to question how they would cover rising interest rates with less money than the county had last year.

“Think about decisions you make today and the difference it makes 40 years down the road,” Loyd said.

He told them that one town thought it would save money by not connecting its water wells together. That decision saved $1 million at the time.

Later, when it became known the wells must be connected for water processing, it will cost the city $60 million to connect the wells.

“Don’t make a hasty decision,” Loyd said.

Loyd reminded commissioners that they could lower their tax rate after a budget hearing. After the county budget is approved, however, they cannot easily increase it.

He encouraged them not to reduce the mill levy.

Loyd gave commissioners written comments on Spencer’s budget draft. The county has a $529,063 increase in assessed valuation, which would allow for more tax revenue at reduced tax rates.

Last modified July 11, 2024

 

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