UPDATED: Fayetteville city property tax rate won’t increase in 2015

Update: Aldermen voted unanimously to keep the millage rate the same as last year during the Sept. 16 City Council meeting.

The city’s portion of the property tax rate hasn’t changed since 2005, and it will likely stay the same for at least another year.

Fayetteville aldermen will consider locking in the city’s rate at 3.1 mills on Tuesday.

The city’s portion of the overall millage includes 1.3 mills for the general fund, 1 mill for the Fayetteville Public Library, 0.4 mills for the Policemen’s Pension and Relief Fund, and 0.4 mills for the Firemen’s Pension and Relief Fund.

Paul Becker, the city’s finance director, said last week that Mayor Lioneld Jordan has not recommended any increase in the city’s property tax rate for 2015.

Levy recommendations typically come in September to ensure the millage is set by the county’s Oct. 31 deadline. Once set, an estimate is made for the city’s general fund to allow aldermen to review the coming year’s budget, which much be approved by the end of the year.

Becker said since Fayetteville generates the majority of its revenue from sales taxes, only about 4.6 percent of the $38.2 million general fund will come from property taxes in 2015.

About mills

One mill is equal to 0.1 percent of a property’s assessed (taxable) value. At 3.1 mills, a person who owns a house worth $100,000 (with a taxable value of $20,000), would pay $62 in city property taxes.

The overall property tax rate in Fayetteville is 51 mills. Aside from the 3.1 mills the city receives, 42.9 mills go the Fayetteville School District and 5 mills go to Washington County.

Listed below are the city millage rates across northwest Arkansas, according to the Arkansas Assessment Coordination Department’s latest millage report:

Avoca – 5 mills
Bella Vista – 2.5 mills
Bentonville – 5.5 mills
Bethel Heights – 3.4 mills
Cave Springs – 2.5 mills
Centerton – 5.4 mills
Decatur – 5 mills
Elkins – 5 mills
Elm Springs – 5 mills
Farmington – 5 mills
Fayetteville – 3.1 mills
Garfield – 5 mills
Gateway – 5 mills
Gentry – 5.3 mills
Gravette – 5 mills
Greenland – 2.9 mills
Highfill – 5 mills
Johnson – 5 mills
Lincoln – 6.5 mills
Little Flock – 4.9 mills
Lowell – 5.1 mills
Pea Ridge – 5 mills
Prairie Grove – 6.5 mills
Rogers – 4.8 mills
Siloam Springs – 5.5 mills
Springdale – 8.2 mills
Springtown – 5 mills
Sulphur Springs – 5 mills
Tontitown – 2 mills
West Fork – 5 mills
Winslow – 3 mills