Supreme Court Upholds Fayetteville TIF Ruling
Posted: February 21, 2013 at 11:48 a.m.
The Arkansas Supreme Court affirmed Thursday that a property tax increase voters approved in a school millage election cannot be used by the city the city of Fayetteville for a down town redevelopment project.
The case, which revolved around a 2.75 mill property tax increase voters approved in 2010 to pay for the second phase of construction of a new high school.
The city had contended the tax should go to a city tax increment financing, or TIF, district to help pay the city’s debt for a redevelopment project.