Wednesday, July 20, 2005 | ||
Bad Links? | Fville tax bills to rise 3%By BEN NELMS If you own property in Fayetteville, youll pay more on your next tax bill than you did last year. How much more depends on how much increased value has been assigned to your property by the Fayette County Board of Tax Assessors. Your increased bill comes even as the Fayetteville City Council prepares to adopt a budget with the same tax millage rate as last year. Overall, the average tax increase comes in at just about 3 percent, despite no change in the millage rate, according to figures from the city. The council will have the second reading of the Fiscal Year 2006 budget at the July 21 meeting. Also scheduled will be a rezoning request to increase the square footage of proposed building space at Summit Point Shopping Center and a proposal to increase application fees in the planning and zoning rate schedules. The citys proposed FY 2006 budget, set to take effect Aug. 1, totals $8,953,501, representing a 1.06 percent increase over the current budget. Though the millage rate is proposed to hold steady at 3.033 for FY 2006, the rate represents an effective tax increase of 2.95 percent due to the reassessment increase. The citys General Fund is budgeted for 2.283 mills while another .75 mills is dedicated for capital projects. Director of Finance Lynn Robinson said the overall digest increased by 7.26 percent. The reassessment of existing real property increased by 3.07 percent over calendar year 2004, leaving the percentage of growth at 4.19 percent. A mill in Fayetteville is now worth $753,252 and total digest taxes are $2,284,613. The FY 2006 budget estimated an overall increase in the tax digest of 9 percent, or $2,321,596, to be collected in digest taxes, she said. City finance staff recommended that there be no decrease or rollback in the millage rate. Council members will hold a public hearing and the first reading of a rezoning request by Piedmont Capital Partners, LLC over The Park at Summit Point office condominium project in the Summit Point Shopping Center. The original Planned Community Development (PCD) called for two office buildings totaling 20,000 square feet. Planning and Zoning Commission members recently failed to sign off on the request increase the project size to 32,000 square feet spread over 11 buildings. The developer said the current business climate was more conducive to smaller buildings. The board cited the significant public input in meetings when the the area was being proposed for development and their belief that the project, especially the square footage, should be held to the original agreement. Also at the meeting, the council will hold a public hearing and the first reading of a proposal for changes to the Planning and Zoning rate schedule. Nearly all fees for applications are proposed to see an increase. |
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