Red Bank officials had time to double-check the city’s property tax rate for months, according to Hamilton County Property Assessor Marty Haynes.
The city is expected to experience an $800,000 shortfall in its $11 million budget this year because it implemented an incorrect certified property tax rate. The mistake originated in Haynes’ office, where values inputted from an incorrect year yielded a lower rate than it should have been — resulting in lower-than-usual property taxes in Red Bank, even after an approved tax increase earlier this year.
Haynes has said his office made a mistake — and he apologized during an October meeting with Red Bank officials. But his calculations are just the first step in the process to determine the rate, he said.
“I have taken responsibility for my office’s role in this issue,” he wrote in a statement after receiving criticism at Wednesday’s meeting of the Hamilton County Commission. “What I have not seen is any acknowledgement from Red Bank of its part in the matter. When elected leaders make a mistake, owning that mistake is part of responsible leadership.”