There will be a Public Information Meeting concerning the Banks at Rock Quarry Intersection Project on Thursday, April 24, 2014 at Fire Station #9 (122 Rock Quarry Road, Stockbridge, GA 30281). The meeting will run from 6:30pm to 7:30pm; it will be “open house” format where people can view the plans and ask questions.
What is SPLOST?
SPLOST stands for Special Purpose Local Option Sales Tax. SPLOST is an optional one percent County sales tax, which the State of Georgia allows counties to collect to fund specific improvement projects. SPLOST must be approved by voters in a general referendum in order to be enacted.
SPLOST I - In September 1996, the residents of Henry County voted to approve the first SPLOST program. Between the start of collections in January 1997 and the end of SPLOST I collections in December 2001, the county collected a total of $72,312,591. During the SPLOST I program, approximately 57 percent of the funding was dedicated to road improvements and approximately 43 percent for buildings and parks.
SPLOST II - The residents of Henry County again voted to approve a new SPLOST II program in November 2002. Collection of the one-cent sales tax started in April 2003, and ran through March 2008, with the county receiving $131,564,883 during the 60-month period. The majority of the revenue from the sales tax, 70%, was used on road and bridge improvements. Public buildings and park and recreation projects were constructed with the remaining 30% of the sales tax revenue. County staff handled management of the SPLOST II program.
SPLOST III - Thanks to an intergovernmental agreement between the County and its four municipalities, SPLOST III, which was approved in November 2007, lasted for 72 months (six years) and had no cap on revenues. The County received 75% of the tax revenue, and the four municipalities received 25% for their own projects. Collections began in April 2008 and ran through March 2014. Once again, the majority of the revenue, 70%, was used for road improvements with the remaining 30% balance going to building construction and park improvements. Total revenue collections for SPLOST III are estimated to be $173.5M.
SPLOST IV - The fourth SPLOST was passed in November 2013. Collections began on April 1, 2014 and will run through March 31, 2020. Based on a revenue projection of $190M, Henry County’s portion of 75% will yield $142.5M for county projects, while the cities of Hampton, Locust Grove, McDonough and Stockbridge will share the remaining 25% or $47.5M. For a complete list of SPLOST IV approved projects, please see the SPLOST IV Master List.
School systems are also allowed a SPLOST for school construction and improvements. The Henry County School System renewed its E-SPLOST in November 2011, and started collecting January 2013. The county SPLOST and school E-SPLOST are separate taxes.
| Public Information Meeting Regarding Banks and Rock Quarry Rd. Project Set for April 24 |
The Henry County SPLOST Department will hold a public information meeting regarding an...