The Fayette County Board of Education plans to raise the property tax millage rate 9.16 percent above the rollback rate, which will require three public hearings before the rate is decided on Aug. 21.
The board wants a rate of 19.500 mills, a 0.250 mill decrease from last year. The rollback rate is what would produce the same amount of revenue at the current millage rate if no property reassessments had occurred, but the board’s new budget requires a higher millage than what the rollback rate would have provided. The approximately $10 million budget increase is due mostly to cost-of-living raises, higher retirement plan contributions and health insurance premiums.
Millage hearings will be held at 11 a.m. and 6 p.m. on Aug. 14 and at 6:30 p.m. on Aug. 21, all at 210 Stonewall Ave. in Fayetteville.