HB266 Summary

• Authorizes the City of Auburn, Alabama to increase its special ad valorem tax rate for education from $0.50 (5 mills) to $1.40 (14 mills) per $100 of assessed property value.

• The tax increase is authorized under Amendment 373 to the Alabama Constitution of 1901 and applies to Amendment 148's education tax previously approved by voters in elections held in 1960, 1965, 1986, and 2001.

• The Auburn City Council may increase the tax rate following a public hearing and adoption of a resolution under Amendment 373 procedures.

• Any increase is subject to approval by a majority of qualified Auburn voters in a special election held for that purpose.

• The act becomes effective immediately upon passage and approval by the Governor.