In what was a two-fold sweep of financial growth and stability, the Trigg County Fiscal Court unanimously opted Monday night to increase its 2021 budget from $5.1 million to $6 million, and to cautiously increase its 2022 budget appropriations on a 6% increase to $6.36 million.
Both decisions came following bullish reports from County Clerk Carmen Finley, who first asked for a budget amendment to the 2021 financials before seeking metered growth for the next fiscal year.
Citing deed transfer taxes over the last three years, Finley noted Trigg County experienced record receipts in six of the last 11 months — with one month to go in this final quarter.
In 2019, Finley said deed transfer taxes totaled $80,575 on $80.57 million in sales. For 2020, a year rampant with COVID-19 and federal financial relief, only saw more gains — with deed transfer taxes totaling nearly $93,500 on $93.5 million in sales.
This year, Finley added deed transfer taxes are already north of $126,000 — meaning more than $126 million has been accrued in sales.
Once the 2021 budget increase was resoundingly approved, Finley moved into a 2022 budget discussion, noting she wanted to remain conservative with estimated receipts and expenditures because, at some point, the county could run short on property sales and new vehicles.
Two county magistrates — District 3 representative Cameron Sumner and District 1 representative Mike Wright — both noted that they’ve talked with recent transplants to the county, who opted to buy real estate in Trigg County because of affordable property taxes and a lower cost of living.
Sumner also noted, at minimum, it would be safe to increase Trigg County’s 2022 budget by 2% of the previous year — just based on the consumer price index.
Finley said the Trigg County Clerk’s Office also continues to assist surrounding counties in certain avenues, providing another stream of unexpected revenue.
In the 2022 budget, Finley earmarked potential receipts of $800,000 for motor vehicle licenses and transfers, $2.3 million in motor vehicle usage tax and $150,000 in deed transfer tax.
