Tax increase likely for Martin

The Martin Board of Aldermen has approved the first reading of the city’s proposed fiscal year 2026 budget, which includes a property tax rate increase aimed at improving employee compensation and addressing municipal operational costs.

The proposed budget outlines an increase in the city’s property tax rate from 1.64% to 1.74%, representing an approximate 6 percent hike. If approved, this adjustment would generate an estimated $280,000 to $285,000 in additional revenue through property taxes.

In an interview with Thunderbolt Broadcasting, Alderman Jacob Crowe explained that the tax increase is intended to address longstanding concerns about employee pay disparities between Martin and surrounding municipalities.

“Currently, with our debt service and administrative costs, this increase is necessary to provide cost-of-living raises of approximately $1,200 annually per employee, along with a $250 Christmas bonus,” Crowe said.

He added that the city has faced challenges with employee retention due to lower wages compared to other areas. “We’ve had consistent turnover because of a lack of pay,” Crowe said. “This is in good faith an effort to keep the employees we do have and show that we’re making strides to close that gap.”

The proposed general fund budget for 2025-2026 totals approximately $15.79 million in revenues, up from an estimated $14.94 million for 2024-2025. Expenditures are projected at $15.72 million, with salaries accounting for more than $6.4 million and debt service at just under $2.3 million.

Mayor Randy Brundige was not available for comment on Wednesday.

A second reading of the budget is scheduled for the board’s July meeting. If approved, the tax increase and related budget adjustments would go into effect for the upcoming fiscal year.