Holly Springs sets property tax rate

The Holly Springs City Council on Monday night approved the city’s 2015 property tax rate, setting the millage level at 5.315. The levy is down from last year’s 5.50 and represents a decrease greater than the revenue-neutral rollback rate.

City Manager Rob Logan said some residents could see a reduction in their property taxes this year, if their homes were assessed at the same value as last year or saw only a slight increase.

Logan said the drop was made possible by healthy growth in the city’s tax digest, more than 12 percent beyond last year’s level. This year’s gross tax digest totals $384.5 million.