City Council approves revised 2025 fee schedule removing credit card processing fees

The Farragut Board of Mayor and Aldermen convened on April 24, 2025, to discuss several important matters, with a key focus on the revised fee schedule for fiscal year 2025. The meeting highlighted the removal of credit card processing fees from the fee schedule, a change prompted by new regulations from Visa that prohibit merchants from passing these fees onto customers.

The resolution, labeled R 25 20 25-O7, was presented to the board, and the rationale for the change was clearly outlined. The staff recommended this adjustment to comply with Visa's updated policies, which aim to protect consumers from additional charges at the point of sale. The board members engaged in a brief discussion regarding the implications of this change, with Alderman Burnette expressing frustration over the perceived limitations imposed by Visa. He suggested that the board could simply rebrand the fee rather than eliminate it, arguing that businesses should not bear the financial burden of these processing fees.

Despite the concerns raised, the board proceeded to approve the resolution unanimously, indicating a collective agreement on the necessity of adapting to the new regulations. The roll call vote confirmed the approval, with all members voting in favor.

In addition to the fee schedule discussion, the meeting included a review of six business items, although no ordinances were presented for consideration. The board's decision to revise the fee schedule reflects a broader trend in local governance, where compliance with financial regulations is increasingly shaping municipal policies.

As Farragut navigates these changes, the implications for local businesses and residents will be closely monitored, particularly as the board prepares to review the fee schedule again for fiscal year 2026. This ongoing evaluation will be crucial in ensuring that the community's financial landscape remains fair and transparent in light of evolving payment processing standards.