Summit County is reviewing the money it made last year, showing how a few budget cuts and one unexpected revenue stream canceled out dwindling tax revenue.
A report from the county finance department shows total revenue of $53.9 million in 2025. That is $3.7 million higher than predicted and just barely less than the county made in 2024, which puts the county in a “strong financial position with substantial reserves coming out of 2025,” finance director David Reynolds writes in his report.
A quick glance at tax revenue suggests this should not have happened. County property tax revenue fell by roughly $2.8 million, while sales and other taxes plummeted by more than $3 million. That’s a loss of almost $6 million from the county’s biggest revenue stream.
Dig deeper and you find that Summit saved money where it mattered, sometimes through controversial cuts, including almost $1 million on public safety and administration.
The county also made $1.6 million more than expected with interest payments. Reynolds explains, writing, “This rise was driven by a large market value adjustment at the end of 2025 as the county investment pool continues to outperform expectations.” That’s right – the county was making millions off smart investments.
Summit also made a few hundred thousand dollars each from permitting, licensing, service charges and intergovernmental grants.
Reynolds and his team are feeling optimistic with $30.1 million in reserve, but none of this changes the county’s plan to tighten its belt this year. Every department is working with a budget that is flat or smaller than in recent years.
Why? Because the county pros believe revenue will keep on shrinking by nearly $6 million this year.