AL HB397

Approves a proposed increase in the City of Dothan's ad valorem tax rate by up to 1.5 percent (15 mills), raising the total from 0.5 percent (5 mills) to 2 percent (20 mills) of assessed property value.

Tax increase requires approval by majority vote of qualified Dothan electors in a special municipal election held no later than October 1, 2013, and becomes effective in the tax year specified on the ballot.

Distributes additional net tax revenues (after collection costs) with thirteen-fifteenths going to the Dothan City Board of Education for public school purposes and the remainder to Houston-Love Memorial Library Board for library improvement, operation, and maintenance.

Additional tax revenues are assessed and collected using the same procedures as existing municipal ad valorem taxes with no changes to property assessment or collection methods.

Act becomes effective immediately upon passage and approval by the Governor.