Town Council Meeting - Millage Public Hearing

TYRONE TOWN COUNCIL MEETING - MILLAGE PUBLIC HEARING MINUTES October 16, 2024 at 9:00 AM Eric Dial, Mayor Gloria Furr, Mayor Pro Tem, Post 4 Jessica Whelan, Post 1 Brandon Perkins, Town Manager Dia Hunter, Post 2 Dee Baker, Town Clerk Billy Campbell, Post 3 Dennis Davenport, Town Attorney Also present: Sandy Beach, Finance / HR Manager Scott Langford, Town Engineer / Public Works Director Absent: Council Member Jessica Whelan I. CALL TO ORDER II. INVOCATION III. PLEDGE OF ALLEGIANCE IV. PUBLIC COMMENTS: Comments are limited to three (3) minutes. Please state your name & address. Comments that require a response may not be answered during this time. The Council or staff may respond at a later date. V. APPROVAL OF AGENDA A motion was made to approve the agenda. Motion made by Council Member Campbell, Seconded by Council Member Hunter. Voting Yea: Council Member Campbell, Council Member Furr, Council Member Hunter. VI. CONSENT AGENDA: All matters listed under this item are considered to be routine by the Town Council and will be enacted by one motion. There will not be separate discussion of these items. If discussion is desired, that item will be removed from the consent agenda and will be considered separately. VII. PRESENTATIONS Town Council Meeting - Millage Public Hearing Page 1 of 3 October 16, 2024 VIII. PUBLIC HEARINGS 1. Public hearing for the proposed 2024 millage rate to remain at 2.889 - Brandon Perkins, Town Manager Mr. Perkins informed everyone that today was the first of three public hearings to set a millage rate to calculate the Town’s share of property taxes for 2024. He added that the proposed 2.889 millage rate was estimated to provide revenue for approximately 17% of the budgeted 2024/2025 fiscal year. If the rate stayed the same for a consecutive 17 years, at 2.889 mills, it would result in approximately $145,761 more than last year for an increase of 7.81%. Mr. Perkins presented Council with a presentation. He stated that data provided by the Fayette County Tax commissioner indicated that Tyrone’s rollback millage rate for the following year was 2.669 mills. The proposed tax increase for a home with a fair market value of $475,000 was $41.36 and the tax increase for a non-homestead property with a fair market value of $450,000 was approximately $39.60. Mr. Perkins shared that recently House Bill 581 passed and would be on the November ballot. The bill would provide a statewide floating homestead exemption which would restrict assessment increases on homesteaded property to 3% annually or at the rate of inflation, beginning January 1, 2025. It would also allow local governments to opt out of the homestead exemption through the adoption of a resolution by March 1, 2025. The bill would cap unimproved property assessment increases, which could mean governments and school districts must raise tax rates to maintain revenue. It would provide a new 1-cent sales tax Flexible Local Option Sales Tax (FLOST) that would assist local governments recover reduced revenue. It could amount to additional revenue each year without increasing property taxes. No one was in attendance for the public hearing portion. IX. OLD BUSINESS X. NEW BUSINESS XI. PUBLIC COMMENTS: The second public comment period is for any issue. Comments are limited to three (3) minutes. Please state your name & address. Comments that require a response may not be answered during this time. The Council or staff may respond at a later date. XII. STAFF COMMENTS Mr. Perkins announced that the second millage public hearing would be held during the regular meeting tomorrow night at 7:00 p.m. The third public hearing would be held on October 24th at 6:00 p.m. and the adoption would be at 6:30 p.m. Page 2 of 3 XIII. COUNCIL COMMENTS XIV. EXECUTIVE SESSION XV. ADJOURNMENT A motion was made to adjourn. Motion made by Council Member Campbell. Voting Yea: Council Member Campbell, Council Member Furr, Council Member Hunter. The meeting adjourned at 9:26 a.m. By: Attest: Eric Dial, Mayor Dee Baker, Town Clerk Page 3 of 3