Fayetteville proposes keeping same millage rate

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Fayetteville proposes keeping same millage rate

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Fayetteville is proposing to keep its current millage rate, but higher assessments will result in slight tax increase. Courtesy City of Fayettville

The Fayetteville City Council will hold public hearings regarding its plan to set a millage rate of 3.874 for FY2018, the same rate the city has had since 2014.

The rate is 9.50 percent higher than the rollback rate due to higher property assessments this year. The result would be an extra $20.16 in taxes for a home valued at $150,000, or an additional $47.04 for a non-homestead property with a fair market value of $350,000.

Public hearings will be held at 10 a.m. and 6 p.m. on Aug. 17 at City Hall, 240 S. Glynn Street, and at 6 p.m. on Aug. 31 before the council votes.

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