Floyd County Supervisors Hold Public Hearing on Max Tax Levy Rates for FY25-26
Floyd County Supervisors held a public hearing Monday (03.24) on the max tax levy rates property owners could possibly be paying in the 2025-26 fiscal year.
County Assessor Brandi Schmidt once again explained that the state’s formula for calculating a property’s assessed value is flawed and will impact whether a property owner will be paying more.
Supervisors have been working to trim the budget in an effort to keep tax payments for County property owners similar to the levels of the current fiscal year. Supervisor Gloria noted progress made to lower the max tax rates that were initially proposed for the general fund by about three cents.
Supervisors have also been able to bring the supplemental max tax rate down.
Still, for some constituents, the tax rates are too high and representative the County needs to curb spending.
Schmidt added that likely means some services may need to be cut, but nobody wants to see those cuts either.
About two dozen people attended the public hearing in person in the boardroom of the Floyd County Courthouse, though no formal action was taken by Supervisors to make the revised tax rates official. That won’t happen until they finalize the County’s FY25-26 budget.
