SB473 Summary

• Approves a four-mill increase to the ad valorem school tax in Barbour County Board of Education School Tax District No. 1, levied at a rate of 40 cents per $100 of taxable property value.

• Tax applies to all Barbour County property outside the City of Eufaula corporate limits and outside Eufaula City Board of Education School Tax District No. 55.

• Tax collection period spans 30 years, beginning with the tax year October 1, 2012 through September 30, 2043, with first collection on October 1, 2013.

• Revenue is designated exclusively for public school purposes in School Tax District No. 1 and requires prior voter approval by a majority of qualified electors in the district.

• Act becomes effective immediately upon passage and gubernatorial approval, or upon otherwise becoming law.