Wednesday, July 05, 2006

Fayetteville Taxes

Signs like these are going to start popping up on streets where the City of Fayetteville would like to spend money generated from the tax increase. The idea is let the people visually see where the money would be spent. Nifty idea!

Adam Wallworth, Northwest Arkansas Times, has a very good article on the taxes. I particularly like the schedule of anticipated bond payoffs:
Dennis Hunt, senior vice president with Stephens Inc., the city’s bond underwriter, prepared a schedule that shows the anticipated payoff of the bonds, depending upon which are approved. The schedule uses anticipated payoff, rather than scheduled payoff, to reflect the expected growth in sales tax.

• The earliest payoff date would be May of next year, if voters only approved the $ 2. 1 million trail project.

• If the two sewer project questions are approved, the $ 42 million in bonds would be paid off in September 2014, about a year later than the current sewer tax is to be retired.

• Bonds on the $ 65. 9 million street projects alone would be paid off in December 2015.

• Approval of the sewer and trails would have a payoff date of October 2014.

• If voters approve the streets and sewer questions, the tax would last until November 2017.

• Approval of all four questions would result in the tax being needed until January 2018.

So, if all bonds are approved they would by paid off in 10 years. I do know that the transportation bond isn't enough for the roads we need now. I wonder if the proposed grocery tax elimination will allow Fayetteville to come back with another bond proposal to put back the projects they've had to cut from the city's transportation proposals.

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