Finances were the order of the day at Tuesday’s Macon County Board of Commissioners meeting.
In all, the monthly meeting was stacked with money matters including upcoming property appraisals, the county’s financial health, issues involving local firefighters and one local citizen’s concern over a local investment firm’s impact on older citizens.
The official portion of the meeting launched with a discussion by Macon’s tax assessor’s office regarding the roll out of its campaign to reassess the value of 44,580 properties across the county.
“Are appraisals conducted to raise taxes? No, they are not,” Abby Braswell, Macon County’s tax administrator, emphatically stated.
Braswell reviewed the 2027 property appraisals now being conducted under the North Carolina General Statute 105-286. By state law, reappraisals are required at least every eight years. Macon County is on a four-year cycle.
The goal is to reflect changes in the market and bring assessments in line with sales of property and buildings which should more evenly distribute the tax burden.
By February 2027, the department will update all county parcels to reflect 100 percent fair market value as of January 1, 2027.
Braswell noted that this mandatory process gives the Town of Highlands and the Town of Franklin the ability to set tax rates to fund their budgets. Likewise, the Macon County Board of Commissioners uses this reappraisal to raise the revenue required to fund the county budget.
While the process itself does not create tax rate increases, she said it provides a more accurate understanding of rising – or falling – property values.
When questioned on trendlines already observed in the first three months of 2026, Braswell said sales in the Town of Franklin had remained stable. “Obviously, Highlands is going to be a little bit higher. Cowee’s a hot place.” She said Burningtown is “little bit up” too.
As it stands right now, the reappraisal assessment will add $3.75 billion to our tax base, or an increase of 30 percent countywide on average.
Appraisals in a revenue neutral environment
Braswell explained that NC law stipulates a revenue neutral approach. “If real estate prices are generally rising in a county, then a reappraisal will increase the tax base (not the rates).” However, the county’s revenue neutral tax rate will be less than the existing tax rate because a county could decrease its tax rate but still produce the same tax amount of money given the larger tax base in the year of reappraisal.
“Properties appreciate, or depreciate, at different rates,” noted Braswell, who gave four examples of comparable houses that were sold and taxed at widely varying rates. “The reappraisals are designed to set everybody back to 100 percent market value,” she said, pointing out how the reappraisals in each case evened out the overall tax burden to be shared by homeowners.
The 2023 revenue-neutral tax rate for Macon County was calculated at $0.27 per $100 of assessed property valuation.
“As it stands right now, the reappraisal assessment will add $3.75 billion to our tax base, or an increase of 30 percent countywide on average. The percentages will vary on sales,” she said. The addition to the tax base would take place over four years.
The county’s current annual budget is approximately $67 million.
Braswell encouraged taxpayers to contact the tax office to ensure their assessment is correct.
- The tax office is located at Courthouse Annex Building, 5 West Main St. in Franklin. Property owners can call the tax office at 828-349-2147 or email at [email protected] .
She will update the commissioners in July.
County funds “better than last year”
In what has become an annual tradition, Mitch Brigulio, vice president of Davenport and Company, gave a lengthy presentation on the county’s Capital Improvement Plan ahead of 2027-2028 budget deliberations.
He began by praising the county’s fund balance of $55.5 million for fiscal year 2025, pointing out the strength of Macon County’s conservative approach to debt and its commitment to established fiscal policies. Specifically, the county’s financial position is strengthened by two key points:
- The county’s strong credit rating – Aa2 from Moody’s and AA from Standard & Poor’s and Fitch – has not changed from the previous year.
- A structurally balanced budget, which indicates a strong financial performance.
Some of those projects listed in his presentation include a Macon County Pool, water treatment for Iotla Valley Elementary school, a new East Franklin Elementary school, and a Cartoogechaye Elementary addition.
In FY2021 through FY2023, the county generated its largest annual surpluses over the last six years, largely due to strong sales tax collections. The total fund balance increased from $37.9 million to $55.5 million, with the unassigned balance increasing by approximately $16.2 million to $48.3 million.
Commissioners probed Davenport’s analysis with some “what if” scenarios that laid out different approaches to address capital projects. Commissioner Gary Shields asked, “We have chosen not to support one quarter sales tax…if we pass that, how would that [impact the CIP]? Brigulio responded that it would be a positive for the county.
Commissioner John Shearl questioned if the county should be focused on how its investments are growing funds for future capital projects. Brigulio pointed out that investment performance is hard to predict. The market fluctuates with economic changes.
Putting out fires – figuratively and literally
The Board approved a motion by Shearl for a $75,000 budget amendment from the fund balance to cover reimbursements to Cowee Volunteer Fire & Rescue for life saving equipment and station repairs. The expenses were incurred after the merger with the Burningtown Iotla Fire Department (BFID) in September 2025.
Fire Chief Dustin Pendergrass assured commissioners that the request was a unique one-off, and it would not open the door for other volunteer fire departments to request similar budget fixes. County Manager Warren Cabe later promised to provide information on how a fiscal audit of BFID might be accomplished.
The Board then unanimously approved the revised map for the Cullasaja Gorge Fire and Rescue Department to include the completed substation on Ellijay Rd. The map can now be submitted to the State Fire Marshal for approval. An inspection of the substation will eventually improve district and insurance coverage.
Heather Johnson and a group of local residents publicly thanked the Otto Volunteer Fire Department and U.S. Forest Service, “For their super awesome, quick, and efficient response to the High Cotton Fire on March 28.”
More on investment investigations
Matt Jackson, a local real estate agent, returned for a second month to address commissioners about the loss of his retirement funds while working with a local financial company. He said the local financial professional is “under investigation. I’m back because it’s growing.”
The issue concerns his claim that a local company lost all of his retirement savings.
In a recent social media post, Jackson said he received an email from the owner of “Argent Limited Partnership” stating that all of its funds were depleted. The claim was confirmed by The Franklin Press in its March 11 issue.
The newspaper reported that Argent Capital Partners LP was the company Smith referred to and it was under investigation. According to the newspaper, the company is independent of Argent Accounting Inc. and Argent Insurance Services Inc. Also, the newspaper reported that the Franklin Police Department said several agencies are investigating. Trevor Vernon is listed as the CEO of Argent on the company’s website.
Jackson first addressed Commissioners on March 10 to alert them to potential financial irregularities that seemed to drain clients’ investments. “We’re talking about tens of millions of dollars,” he alleged.
At Tuesday’s meeting, Jackson said federal agencies were now involved in the investigation, and they are speaking to other victims. While he did not have a specific request for the commissioners, he asked to use the platform to ensure the community was aware of the financial strain some senior citizens may find themselves in as more information is uncovered.
“There are people in this community right now who are terrified, who are hurting, who are too ashamed to tell their own families what happened. They wake up every single morning, wondering how they’re gonna make it,” Jackson said. He offered to serve as a resource to help anyone who thought they may be affected.