Associated Press Published

Fayette County Faces $450,000 Budget Shortfall

Fayette County Courthouse

Fayette County officials say they’re facing a $450,000 budget shortfall next year as tax revenues decline.

The Register-Herald reports the decline in revenue is linked to a drop in coal value, industrial personal property value and business personal property value.

County Assessor Eddie Young says state officials estimate Fayette County will see a $20 million decrease in appraised coal value. Coal is appraised on reserve and actively mined coal.

The county expects a $60 million decrease in the assessed value for industrial personal property and about a $10 million decline in business personal property value.