Special Election Referendum
The City of Fairburn will hold a special election on November 4, 2014. A referendum item will appear on the ballot seeking the approval of the voters of the City of Fairburn to exercise Redevelopment Powers under the Redevelopment Powers Law. The intent of this Act is to permit, without requiring, the City of Fairburn to undertake and carry out community redevelopment, to create Tax Allocation Districts (TAD) to issue tax allocation bonds. The City of Fairburn does not have any plans for a TAD at this time.
To learn more about Redevelopment Powers Law and Tax Allocation Districts please follow the link below. This link is an educational FAQ page created by the Georgia Municipal Association.
The question shall read as follows.
( ) Yes Shall the Act be approved which authorizes the City of Fairburn to exercise redevelopment powers under the ‘Redevelopment Powers Law,’ as it may be amended from time to time.
( ) No
Persons who wish to vote in the election must be registered by October 6, 2014.
Example on how TADs work:
- Say the property taxes on a vacant piece of property are $10,000 per year.
- Then the property is developed and the taxes on the improved property is $100,000 per year.
- If the property is part of a TAD, the property taxes are frozen at the vacant land rate ($10,000 per year).
- After the land is developed, the property owner pays the improved property rate ($100,000).
- However, the $90,000 difference between the $10,000 and $100,000 in property taxes is kept in a separate account and pledged (over a period of 20 years) toward improvements to a specific project.
In essence, property values increase in the surrounding areas. TADs do not raise taxes and nor does it expand city services. It’s simply a mechanism to help fund certain projects.
Fairburn, located just 25 minutes south of Atlanta is a city of historic homes, buildings and places of worship with a thriving business community. Fairburn is a city that embraces the future while remembering the past. Our downtown Commercial District, listed in the National Register of Historic Places, includes 20 different commercial buildings and two train depots dating from the late 19th and early 20th centuries. The proud center of our vibrant community offers unique shopping, dining and entertainment plus a host of business and housing options within comfortable walking distance of this historic area.
A charming city of thirteen thousand residents, Fairburn, stretches from the bustling Highway 74 industrial corridor on the eastside to Campbellton-Fairburn Rd (Hwy 92) on the Westside. The city has experienced phenomenal growth in business, industry and residential neighborhoods in recent years. Yet Fairburn maintains a traditional small town atmosphere coupled with the sophisticated advantages of a nearby metropolitan area. With easy access to interstate 85 and Hartsfield Jackson International Airport, Fairburn is perfectly positioned for all your business and personal needs.
Home to the annual Fairburn Festival, The Southside Theatre Guild and the Georgia Renaissance Festival, Fairburn has a rich cultural heritage enjoyed by residents and visitors alike. Come join us and see why we’re so proud of our town. Fairburn is a great place to live, work and play today, tomorrow and for all the years to come.