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Arkansas Supreme Court Saves Library MillageThe Arkansas Supreme Court ruled April 26 that property taxes collected specifically for schools and libraries cannot be diverted to fund commercial development. The ruling goes against the city of Fayetteville’s attempt to use the 25-mill tax to pay off bonds issued to clear land for a new downtown hotel, the Springdale Morning News reported April 26.The city argued that it had the legal right to use a portion of the taxes based on a 2000 amendment to the state constitution that set up tax-increment financing (TIF) for redevelopment projects. Attorney Vince Chadick successfully argued the case in the Supreme Court for the Fayetteville Public Library, which stood to lose more than $5 million over the next 25 years. Supreme Court Justice Robert L. Brown ruled that any diversion of the basic property tax for schools or libraries must be approved by the state’s voters, adding, “It would have been an easy matter for the drafters of the amendment to have also stated that the 25 mills would be part of the TIF formula, if that was their intent, but they did not do this.” Posted May 4, 2007. |
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