Possible Tax Hikes on the way for Peachtree City?

Hey Peachtree City…..facing a projected shortfall of $757,128 for fiscal year 2010-2011 and a projected $621,674 shortfall in the current year’s budget…..Peachtree City Council is looking at making some tough decisions.  Officials are not only contemplating using reserve funds but also projecting tax increases.  City staffers are projecting a .269 mill property tax hike for fiscal year 2010-2011 which begins on October 1st.  This increase would be equivalent to a $26.90 property tax increase for homes with a fair market value of $250,000.

No Property Tax Increase In Peachtree City for FY 2010!!

Hey Peachtree City…City Council recently voted by a margin of 3 to 2 not to increase property taxes for fiscal year 2010!  However, Council did agree to increase the millage rate to 5.711 mils.  The increase in the millage rate would prevent the usage of cash reserves for the FY 2010 budget.  Just in case you are wondering were the money is going….approximately 16.5% is headed to Peachtree City, 67.2% goes to Fayette County School Board, 15.5% goes to Fayette County and 0.7% goes to the State.  Three public hearing were scheduled (as required by law) to advertise the increases.