Revenue Collected from Franklin County Real Estate Taxes Going to Pay Back Loan

BENTON — Franklin County is taking steps to pay back a loan it borrowed in May. The county used the funds to boost finances during the state budget impasse.

County Treasurer Keith Jones says almost $469,000 will be paid back thanks to funds collected from 2016 real estate taxes payable this year. The county has until the middle of November to pay what’s left, which amounts to $230,000. He says the county can pay that following another distribution in about 30 days.

The county is expected to collect about $13 million real estate tax receipts. Jones says the county will be able to keep about $1.3 million.