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Fayetteville to avoid property tax increase by lowering millage By JOHN
MUNFORD
Fayetteville residents can rest easy about their city tax bill now that the City Council has approved a plan to foil a property tax increase due to the reassessment of homes in the city. The city will roll back its millage rate from 3.11 to 3.033 to negate any surplus that the reassessments would have brought to city coffers. The city will still see a projected $123,000 increase due to new homes and businesses that have been built since the previous year. All told, the city will take in an estimated $1.88 million in property taxes for the coming fiscal year. Because Fayetteville is rolling back its millage rate to account for the reassessment increases in the tax digest, the city will not have to hold public hearings on the millage rate. Such hearings are required by law for communities who want to reap the windfall of the increase in building reassessments. Mayor Ken Steele noted that the city has an aggressive capital improvement budget of $1.6 million for the coming year, but the city is doing its best to hold the costs down for taxpayers. The big-ticket items in the capital improvement budge two fire trucks and the new police station/municipal courthouse building, will be financed over a period of years to lessen the immediate burden on the city's budget. "We tried to provide the perfect services for our community for the lowest amount of money," Steele noted.
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