F'ville reduces millage, offsets tax increase

Thu, 08/14/2008 - 12:14pm
By: Ben Nelms

Economy Down? Then do not increase taxes. That was the message Thursday morning when Fayetteville City Council held a brief meeting to rollback the millage rate to 2.988 mills to avoid property owners having to pay any increase in taxes.

The meeting took less than five minutes after hearing a recommendation by Finance Director Lynn Robinson to rollback the rate from its current 2.99 mills to the proposed 2.988 rate, thereby offsetting any net tax increase.

The city’s overall digest growth for 2008 was significantly lower than any of the past five years. The net increase in the digest for 2008 was 3.94 percent, compared to a five-year low of 7.04 percent in 2003 and a high of 13.10 percent in 2004.

The digest increased an average of 9.634 percent from 2003-2008, according to the city five-year history.

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