Wilson County expects to see a temporary revenue shortage from facilities taxes in the coming months after a recent increase in permit fees from $3,000 to $5,000.
"On facilities tax, we are over what we budgeted for the year now by about $500,000," Finance Director Aaron Maynard said at the Wilson County Budget Committee's meeting held Thursday. "There were a lot of people coming ahead to get building permits, and we could actually see that dip off for a little while."
According to Maynard, citizens had a 30-day window to apply for permits before the new rates took effect, meaning that many ongoing projects adjusted their schedules to pay the cheaper rate.
Since the facilities tax is a revenue item and not an expense, the county is not expecting the drop to be detrimental and hopes to see it stabilize into extra funding.
"I think it will leave a lasting impact," Maynard said. "We're projecting what's going on in the housing market, and if it stays close to what it is right now this is going to be an increased source of revenue for the county. The main purpose for that is going to be funding additions to the jail."
The committee also approved fund transfers within the Agricultural Center and Wilson County Circuit Court budgets, largely from reserve funds toward maintenance.