Tax administrator outlines sales-ratio trend and possible move toward a four-year revaluation; CFO presents monthly finance numbers

Rita Miller, Alleghany County tax administrator, presented an update on public-utility equalization and the county—riefed commissioners on sales-ratio performance.

Miller said this is the first equalization year for public-utility values, including Blue Ridge Electric and cell carriers, and that the equalization reduced tax revenue by about $45,000. She reviewed the county—ounty sales-ratio trends (the state recommends a sales ratio between 90% and 110%, with 100% the target) and said the county's ratio dipped beginning in 2021, a trend she and the board attribute in part to COVID-era market changes. Miller said she will return with a recommendation on changing the revaluation cycle and noted that any decision to move to a 4-year cycle should be made at least 18 months before the effective date; she indicated an effective date of Jan. 1, 2027 would be consistent with that timing.

CFO April Hamm presented the monthly finance report as the first full-month snapshot of the fiscal year: year-to-date revenue $8,842,733.48 (37% of the approved general fund budget), year-to-date expenditures $4,862,347.87 (20% of budget) at 21% through the fiscal year, and an approved general fund budget for FY26 of $23,912,466. Hamm reported bank balances (checking $7,212,223.41; savings $17,470,589.83; combined $24,682,813.24) and a separate Sparta (town) savings total of $14,454,813.60. She also reported local-option sales tax receipts for July and said staff would adjust future reports per LGC recommendations to include month-over-month comparisons on request.

Board members asked for more department-level trend detail and month-by-month comparisons; Hamm said she would incorporate those items into future reports. No formal action was taken on the revaluation schedule at the meeting.