Local News

Loss of Housing Revenue Could Hurt Franklin County

Posted March 27, 2008

— When the housing market struggles, builders don't construct as much. Local governments don't collect as much in permit fees and projected taxes.

In larger counties like Wake, the loss of revenue is easier to absorb, but smaller counties including Franklin, are feeling the pinch.

In the county, septic tank permits are down, causing nearly $70,000 to be taken unexpectedly from the county health department.

Fewer construction permits has left the planning department is down $55,000.

“We weren’t anticipating the decreases we’re seeing in some of our revenues,” said county finance director Chuck Murray.

The county could lose $570,000 of projected revenue.

“It’s kind of a trickle down effect from the whole thing. We’re not getting the sales we need and they’re not getting the revenues that they kind of counted on,” said Tracy Jones of JVC Homes.

Murray said it is too early to tell if the loss of revenue will mean programs have to be cut.

Franklin County Commissioner Don Lancaster says he doesn't believe the county will need to cut any programs. He says the county will make up its lost revenue from the county's fund balance.

5 Comments

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  • dwsprag Mar 31, 2008

    Franklin County alrady has one of the largest property tax rate per $100 value in the State as it stands currently. I do not think they have a lot in reserve, or at least they have not shared that information with the general public.

  • Ouroboros Mar 28, 2008

    Get used to it Franklin County, because this looks like a trend. The time to stop whining would be.... NOW!!!
    Cut back to a one man operation in your departments and be done with it. I think It's good to see the gov take a hit instead of the people for a change. Any more tax increases and we should take over the county seat with pitchforks and torches in hand!

  • richard2 Mar 28, 2008

    Everybody thinks the goodtimes are forever. Save for the bad times. Plan for the bad times. Don't spend all the money you take in every year.

  • shaggingmomma Mar 27, 2008

    Shhhh, they are listening you know. And it doesn't take too much to make them raise property tax rates in Franklin County.

  • whatelseisnew Mar 27, 2008

    Lord this stuff is so funny. How long have we been hearing, well the growth means we need more money to keep up with the needs. Now we get, gee this slowdown means we are not getting as much money. I have to give a bit of credit here though; at least they have not turned around and said, well now we have a budget hole and we have to raise your property taxes. At least they have not said that yet.