ISLE OF WIGHT—After raising property taxes 25 percent in May, the Isle of Wight County Board of Supervisors will look at giving employees 5 percent raises.

The raises will cost $$482,000 annually.

Supervisors during a Thursday meeting unanimously approved spending $241,000 for the 2011-2012 fiscal year in January to give raises to full- and part-time employees, pending a mid-year review of revenues and expenditures in December.

“If our revenue stream is right on track, then we will do it,” Budget and Finance Director Michael Terry told the board. “We’ll close in December and do the review in January.”

Smithfield District Supervisor Al Casteen had issues with the plan because of the lack of time between the review and when the raises would take effect.

“I’m concerned that the timing seems off,” Casteen said.

Terry said the raise would go into effect retroactively if revenues are right.

“I don’t know how I feel about telling (employees) that they’re going to get a raise and then telling them we don’t have enough money to do it,” said Hardy District Supervisor JoAnn Hall.

“I think we’re doing the fiscally responsible thing by not committing to it,” said Newport District Supervisor Stan Clark.

Supervisors in May raised taxes to support the county’s $91million budget. The county chose not to give raises then and agreed to revisit the issue.