Supervisors debate valuations, levy limits and TIF deadlines as budget season approaches

Chickasaw County supervisors spent a significant portion of the meeting reviewing valuation growth, levy-rate mechanics and the implications of tax-increment financing (TIF) on county revenues as the budget cycle approaches.

Staff reported about 3.12% valuation growth, and board members discussed how the state’s levy rules and recent legislative proposals could affect future revenue capacity. Supervisors debated whether to pursue a full levy increase up to the calculated maximum or to ratchet rates back in recognition of legislative pressure to reduce property taxes. Several members warned that larger cities and neighboring counties’ tax strategies can shift tax burdens and complicate the county’s revenue outlook.

The board examined how excess collections and ending fund balances might be applied, and whether district-specific TIF claims will reduce the county’s taxable base. Members noted a December 1 filing deadline for TIF reimbursements; one participant explained that a taxing body has until Dec. 1 to submit claims for expenses that can be reimbursed by TIF proceeds, but that only claimed expenses (up to actual expenditures) are retained if a TIF keeps more than the claim amount.

Supervisors scheduled a series of January meetings — including on Jan. 6 and Jan. 7 — to finalize department presentations and wage decisions, and they directed staff to prepare updated spreadsheets showing revised revenues and ending fund balances so the board can make an informed decision on levy rates and budget amendments.

The board did not adopt a final levy or budget at this meeting; the discussion established the timetable and the data requests necessary for formal action in January.