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County passes tentative budget with no property tax increase; treasurer and legislators debate fund balances and interest use
Summary
The Legislature received the county’s tentative budget for fiscal year 2026, which the sponsor said keeps the property tax levy unchanged but projects expense growth; the treasurer and legislators discussed fund balances, interest earnings and whether interest could offset county budget pressures and exemptions.
The Greene County Legislature received a presentation of the tentative 2026 budget on Oct. 14 and approved advancing the plan to the public hearing stage. The speaker presenting the budget described it as holding the property tax levy constant while the overall expense total increased.
In the presentation, the speaker said the proposed budget would not raise the overall property tax levy, which the presenter described as $27,404,370 (the presenter described this as “the same levy amount as fiscal year 2020,” noting the figure in the submitted materials). The presenter said the proposed budget shows an overall expense increase of roughly $5.67 million (4.17%) but, when adjusted for federal/state uncertainties and other factors, a lower adjusted increase of about $3.87 million (2.8%). The speaker identified major upward pressures as collective-bargaining payroll increases, inflation-driven costs, social-service demands, pension obligations and health insurance costs.
During Finance Committee discussion, Treasurer Keith and other legislators discussed fund balances and interest income. The treasurer said the county had moved significant invested funds to raise yield and projected about $2.25 million in general-fund interest income for 2025; the Legislature and treasurer debated whether accumulated interest or fund-balance reserves could be used to offset parts of the expense increase and changes in exemption-driven redistributions among towns. The treasurer said the county manages many funds and that about $53.8 million is allocated to active projects; much of that money is invested to earn interest until needed.
Committee members requested a clearer spreadsheet breaking out individual fund balances and the uses of interest earnings, and the treasurer said he would provide more detail. The tentative budget was released for public hearing, with a public hearing scheduled for Oct. 27.
Why this matters: Budget choices determine service levels, capital projects and tax impacts. Although the proposed levy is unchanged, projected spending increases and the mechanics of redistribution (equalization changes and exemptions) can change individual taxpayers’ bills.
Next steps: the Legislature will hold a public hearing on Oct. 27 and the treasurer will provide more granular fund-balance information requested by legislators.
