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Fayetteville expects
to adopt lower millage rate
By MONROE ROARK
mroark@thecitizennews.com
Fayetteville's new millage rate will apparently be even lower than
previously expected.
The City Council is expected to approve a net rate of 3.22 at next week's
special called meeting, it was announced at Monday night's regular meeting,
where the first reading of the millage was presented.
Original city staff estimates placed that figure at 3.31, but the city
was able to roll back the reassessment portion and still meet its budget
demands. The general fund millage rate will be 2.47 and the capital projects
fund millage rate will be .75.
A five-year history of the city's tax levy shows an increase of 10 percent
in net taxes over last year, but the overall tax digest has grown by 14
percent. Total estimated digest taxes for this year add up to $1,344,179,
with one mill now equal to $417,447.
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