Fayette County adopts full rollback millage rate, citing $101.4 million in citizen savings
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Summary
The Fayette County Board of Commissioners approved Resolution 2024-11 to set the 2024 millage rate at 3.763 (a full rollback), a 6.718% decrease. County staff said the rollback yields an average saving of about $50.68 per homeowner and represents $101.4 million less revenue than if rates had not rolled back since 2014.
The Fayette County Board of Commissioners on Oct. 24 approved Resolution 2024-11, adopting a 2024 property tax millage rate of 3.763 — a full rollback from the previous rate.
Chief Finance Officer Sheryl Weinmann told the Board the county’s 2024 Digest totaled about $10.2 billion after reassessments. She said real property reassessments increased the Digest by $687,299,093 (7.32%), while personal property increased by 9.75%. Despite those increases, Weinmann said the proposed millage rate is a full rollback and “this was a savings of $101.4M to the citizens.” She provided an example that the rollback would reduce the average county resident’s bill by about $50.68.
County Administrator Steve Rapson said the 2025 budget assumption was predicated on keeping a full rollback and that the county’s finances were in solid condition. Rapson cautioned there is a process tied to reassessments and the Department of Revenue’s CPI cap that could affect future levy calculations and noted staff did not recommend opting out of the referendum window available to adjust course.
Commissioner Charles Rousseau asked what impact a property tax referendum on the ballot could have on operations if passed; Weinmann said it would change the amount of funds collected the following year and complicate future rate calculations. Rousseau said he expected budget belt tightening in the future; Weinmann agreed that some tightening was likely.
Vice Chairman Edward Gibbons moved to approve Resolution 2024-11; Commissioner Rousseau seconded. The motion passed 3-0 with Commissioners Eric Maxwell and Charles Oddo absent.
The Board’s action formalizes the millage rate for tax year 2024 and will be reflected in the county’s tax levy documents filed under state law. The county provided sample bill distributions for different municipalities in the county to show how the rollback affects school, county M&O, fire, EMS and 911 allocations.