For the second year in a row, Fayetteville residents will be asked to approve a property tax increase to fund construction for the Fayetteville High School renovation project.
During a special meeting yesterday, the Fayetteville School Board voted 7-0 to approve the administration’s recommendation that the second phase of the project be financed by a 2.75-mill increase in order to come up with the $50 million needed to finish expanding FHS.
Last year, voters rejected a 4.9-mill increase to pay for the entire expansion project, prompting the district to seek alternative funding for the first phase of consturction. Survey results showed an overwhelming resistance to the over $115 million cost of the project.
If approved on Sept. 21, the 2.75-mill property tax increase would equate to an extra $4.58 per month for a $100,000 home.
Expect to see lots of campaigning for this increase as it will help the district secure $31.5 million in soon-to-expire, zero-interest bonds that officials say will save $29 million in costs on the project.