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Belknap County executive committee approves up to $16 million tax anticipation borrowing for 2025
Summary
The Belknap County executive committee voted to authorize borrowing up to $16,000,000 in anticipation of 2025 property-tax receipts. County finance staff said the initial draw will likely be about $9 million and that borrowings are expected to be repaid when tax collections arrive in December.
The Belknap County executive committee on an executive-session vote approved allowing the county to borrow up to $16,000,000 in anticipation of 2025 property-tax receipts.
County Treasurer (name not specified) told the committee, “what I'm asking from the executive committee today is your approval or your vote to, allow the county to borrow up to $16,000,000 in anticipation of taxes for 2025.” The treasurer said the initial borrowing will likely be smaller: “if you look out 6 months from February into August, you'll see that our needs by the end of August are somewhere around $9,000,000. So the initial…
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