As Cuming County prepares its budget for the 2022-23 fiscal year, we would like to draw your attention to the importance of inheritance taxes in our county. Because of the amount of inheritance taxes collected in FY21-22, Cuming County was able to reduce the tax asking for the 2022-23 fiscal year. In the past, we’ve used inheritance taxes to provide aid to the public libraries, help support the County Economic Development Program, and funding major road and bridge projects such as new asphalt and new bridges and culverts. The county also uses inheritance funds as cash reserves in case of disasters. In 2019, inheritance funds were used for repairs to roads and bridges in the county and townships due to the flooding disaster. The county is just now collecting disaster payments from NEMA and FEMA for that natural disaster. Without the reserve funds, these repairs would have been delayed until the State and Federal payments were received.
A transfer of $697,890 is budgeted to reduce property owners’ real estate taxes by $25 per $100,000 of taxable valuation. We encourage you to discuss the budget with any of the County Supervisors. The county board will meet on September 27th for a hearing on the FY22-23 budget that includes plans to use inheritance taxes to reduce property taxes as described above.
Cuming County Board of Supervisors
Steve Sill, Chairman