Last Thursday, the Fisher County Commissioners held a specialcalled meeting where officials addressed the financial challenges after significant reductions in the county’s property valuations, and after brief discussions about possible increases to employee salaries as budget discussions continue in the weeks ahead, commissioners approved a 5% increase of elected officials’ annual salaries.
Fisher County Judge Holt explained to the court and members of the public in attendance during last week’s meeting that the county received its certified property values the previous Thursday, revealing a significant decrease in taxable values.
Initially, the county had a reduction of $16 million in taxable values, but new calculations just days before the meeting showed a more substantial drop of $53 million.
This led to a total valuation decrease from $2 billion to $1.14 billion, a drop of approximately $37 million based on certified valuations.
The county's overall taxable value now stands at $899,441,020 less than previously anticipated.
Judge Holt emphasized the impact of these reductions, stating, “This will affect us... quite a bit.”
He added that the shortfall could leave the county roughly $200,000 short of its anticipated budget expenses for the 2025 fiscal year. While Holt had not yet seen specific tax rate options, he suggested that raising the tax rate might be necessary to cover the budget shortfall.
The county also raised taxes last year, adopting the voter approval rate of .479.
Fisher County adopted a roughly $6.3 million budget in the 2023-2024 fiscal year.
Judge Holt filed his proposed budget on Wednesday this week, but the Chronicle was unable to review that document before the press deadline.
During last week’s meeting, the commissioners were to vote on salary increases for elected officials.
This decision was driven by the legal requirement for public notification regarding wage increases for elected officials. Holt clarified that per the agenda, the discussion was limited to elected officials' salaries, with other county employees' wages to be addressed in future budget meetings.
The discussion led to considerations of a 3% or 5% salary increase for elected officials, with the 3% increase adding approximately $15,000 to the budget and the 5% increase adding around $25,000. Ultimately, the court decided it was better to approve a 5% salary increase for elected officials, despite the ongoing budget constraints.
Looking ahead, the county is expected to engage in extensive discussions about other salaries and departmental budgets, particularly in relation to the SB 22 Grant. The next meeting is scheduled for August 12, where along with budget talks, there will be a public hearing regarding a possible reinvestment zone, which could lead to additional industrial developments within the county.