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Bradley County trustee presents FY24/25 annual report showing rising collections, tax relief figures and $18.5M in HCI funds
Summary
Trustee Mike Smith presented the Fiscal Year 24/25 annual report detailing the partial payment program (1,914 participants in 2025), tax relief totals ($304,922 distributed to 1,745 taxpayers), sales tax collections growth, and HCI investments totaling $18,493,276 with a 24/25 return of $767,107.
Bradley County Trustee Mike Smith presented the office's Fiscal Year 24/25 annual report at the Sept. 8 commission work session, detailing taxation programs, collections, and investments.
The report outlined the county's 12‑month partial payment program (payments accepted Oct.–Feb.; collections begin in March) and listed 1,914 participants on the program in 2025, including 1,022 bank drafts and 892 walk‑ins or mailed payments. The Trustee reported the total to be collected under the 12‑month plan in 2025 as $1,641,930 and estimated an October 1 rollover of about $630,000.
Trustee Smith also reported 1,038 parcels on the tax‑freeze program and 1,745 taxpayers receiving tax relief in 2024, totaling $304,922. The report provided breakdowns of relief categories for 2024 (elderly, disabled, veteran, widow/widower) but did not include household counts beyond these totals.
Sales tax collections and distributions were detailed for recent fiscal years; Bradley County site‑based collections were shown as $11,634,599 for 2024/25, with distributions to county schools, city schools and municipalities listed by year. The report listed 2024 in‑lieu payments totaling $2,010,024 and named several payers with amounts (e.g., Wacker Polysilicon NA LLC — $1,087,887; Whirlpool — $476,605).
On investments, the Trustee reported FY24/25 interest earned was 105% of the federal funds rate and described a new banking contract through 2027 that pays 10 basis points above the federal funds rate on county accounts. The report listed HCI funds (CDs, checking and interfund loans) totaling $18,493,276 as of June 30, 2025, with a 24/25 return of $767,107 (net available for grants after withhold noted as $652,041). Long‑term investments and bank placements were itemized (examples: Pinnacle $12,000,000; SmartBank and SouthEast Bank holdings).
The Trustee also reported that electronic billing adoption continues to grow: 19,728 tax bills were paid online in 2024 for a total of $5,266,745, a 5.16% increase over 2023. The report concluded with historical summaries of excess fees returned to the county and a note of thanks to the mayor and commissioners.
The annual report was recorded as an attachment to the minutes; commissioners did not take public comment on the Trustee's presentation during the work session.
