In Red Bank, auditors have found that Hamilton County Property Assessor Marty Haynes’ office miscalculated the city’s certified property tax rate, leading to a revenue shortfall of nearly $914,603. During a special meeting, city officials expressed frustration over the mistake, which occurred when the previous tax rate from 2020 was used instead of the correct 2024 rate. Vice Mayor Hollie Berry and Mayor Stefanie Dalton voiced their dismay, calling the situation a “gut punch.”

The certified tax rate is reassessed every four years and is reviewed by various officials before approval, raising concerns about accountability. State law prohibits corrections after tax bills are sent, which happened in late September. Haynes acknowledged the error and stated that recovering the lost funds depends on state decisions. As a result, city commissioners are now considering budget cuts and potential use of the general fund to address the financial impact on the community.