Fayetteville aldermen amend budget to correct tax-rate rounding error
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Summary
The Board of Mayor and Aldermen of Fayetteville held a special call meeting June 30 and approved Ordinance 2025-17 to correct a rounding error in the previously adopted FY2026 budget, lowering the levy to $1.3667 per $100 of assessed value and reducing projected property tax revenue by $92,007.11.
FAYETTEVILLE, Tenn. — The Board of Mayor and Aldermen of the City of Fayetteville held a special call meeting June 30 and voted to adopt Ordinance 2025-17 to amend the fiscal year 2026 budget and correct a rounding error in the tax rate calculation.
The board approved the amendment after the presiding official said the earlier ordinance, No. 2025-16, contained an inaccurate rounding of the property tax rate. “It was never the intent of this board to raise the property tax rate,” the presiding official said, and the board scheduled the special meeting after contacting the appropriate authorities to correct the mistake.
The ordinance amends the levy to $1.3667 per $100 of assessed value for all real and personal property. The budgeted property-tax revenue figure was changed from $4,058,072 to $3,965,361, a reduction of $92,007.11. The ordinance text states it takes effect immediately upon final passage.
Alderman Keenan moved adoption of Ordinance 2025-17; Alderman Faulkner seconded. During the roll call, the board recorded affirmative votes from Allen, Bradford, Keenan, Faulkner and Small, and the presiding official announced, “That motion carries.” The meeting contained no further substantive discussion on the matter.
The amendment was presented as a technical correction to reconcile the adopted budget with a corrected tax-rate calculation and the approval from the Tennessee Comptroller's Division of Local Government Finance was referenced during the meeting. No additional changes to expenditures or programs were proposed at the special meeting.
