Fremont County Assessor Tara Berg today announced that property tax owners can breathe a little sigh of relief as earlier projections of substantial increases are not in the cards this year. There will be increases, but not upwards of the 20 percent originally predicted. The increases, instead, will be in the range of four to eight percent.
She said the County’s Valuation for the coming budget year has dropped to a projected $579-million dollars, down by nearly 7 percent from last year’s $627-million assessment. That’s decline of $576,000.
County Treasurer Jim Anderson had a bit of other good news, in that the county’s present revenue projections are running about $3.2 million ahead for the present year budget. But it was cautioned that the increases revenues were coming from the Federal CARES Act funds, which were most likely a one-time boost.
Anderson said the county had budgeted $21.4 million in revenues, but with the CARES Act money flowing in, actual revenues totaled about $24.6 million to date. He said several larger revenue sources will be added into the mix with the second property tax assessment coming in May, plus increases in sales taxes that come back to the county.
County Clerk and Chief Budgeting Officer Julie Freese said the update was to give commissioners and idea of what to expect in the upcoming budget cycle.