The Acworth, Ga.., City Council has approved a property-tax hike to help pay the debt incurred when it built its municipal cable system four years ago.
The new rate will add about $20 to each $100,000 in assessed valuation on homes in the community. The council approved the hike July 24.
The council took the action when the vendor to which it leased the plant, UTI Holding LLC, couldn’t turn a profit on the system either. UTI president Allen Davis said earlier this month that all of the cash from the system is going toward debt service.
The bundled-services provider has 2,800 installed customers, and it competes head-to-head with Comcast Corp., BellSouth Corp. and satellite-television providers.