RUTHERFORD COUNTY, TN - It’s budget season for Rutherford County and planning ahead for the construction of new schools is a must as the county continues to experience steady growth. But one line item that can be especially tricky to anticipate is the cost of borrowing — specifically, interest rates. Rutherford County Mayor Joe Carr told WGNS News...

While the cost of borrowing has risen, Mayor Carr emphasized that Rutherford County remains in a strong financial position...

Much like a homeowner shopping for a mortgage, creditworthiness plays a key role in securing favorable rates. In the case of counties, a bond rating is the equivalent of a personal credit score. These ratings, issued by agencies like Moody’s or S&P, reflect the county’s ability to repay debt and directly impact loan terms.

Carr noted that municipalities with high bond ratings — as is the case for Rutherford County — often face more competitive offers from lenders when financing large projects...

One of the key factors contributing to the county’s high rating is its responsible debt management. Similar to an individual's debt-to-income ratio, a county’s financial health is evaluated by how much it owes compared to what it brings in. Rutherford County is actively working to pay down existing bonds and is even paying some off early to maintain its strong position…

As growth continues, proactive financial planning will remain essential for the county’s future stability — especially when funding critical infrastructure like schools and other large-scale projects.

In addition to new construction and bonds, the mayor told WGNS on Wednesday that increasing county employee pay to account for cost-of-living adjustments is another important funding area to consider while planning the county budget. However, raising the property tax is off the table — at least for him...

The Rutherford County budget is now hitting the $1-billion point…That’s billion, with a “B.” 

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