LAWRENCE CO. – During the Lawrence County Board of Finance meeting, County Treasurer Jody Edwards reported her office collected 95.6 percent of the delinquent taxes owed in 2023.
In 2022, $2,071,298 was collected in personal property taxes. In 2023, $884,664 was collected.
Edwards reported interest earned rates improved in 2023.
“The rates improved from last year,” she added. “In 2022, the rate was 1.6, and last year, we saw 5.66. All the interest earned goes into our general fund.”
In 2022, the county earned $323,726,41; in 2023, the county earned $999,907.23.
The county has several CDs invested totaling more than $11 million at local banks.
The board also approved a resolution to fund the new shell building in Mitchell’s Industrial Park to further economic development.
The best financial terms offered for payment of the construction costs of the building come from First Financial Bank & Trust, offering an interest rate below others. This will reduce the cost to taxpayers for the construction of the building.
The Board approved the deposit of $600,000 with First Farmers Bank & Trust under the terms outlined in the Redevelopment Commission’s agreement with GM Development with the understanding that any interest earned on the deposit will be returned to the county’s general fund upon termination of the deposit at First Farmers Bank & Trust and any remaining capital shall be deposited into the Dunn Hospital Fund under the jurisdiction of the Redevelopment Commission.
The board also elected Wally Branham to serve as president and Rodney Fish to serve as vice president.
