FORSYTH COUNTY -- The Forsyth County Board of Education said they want to keep earning sales tax revenue and need to put a referendum up to voters.
If approved on the Nov. 8 ballot by Forsyth County voters, a 1-percent sales and use tax, called SPLOST, will be re-imposed from July 1, 2017 through June 30, 2022.
Board members voted unanimously Thursday to put the referendum on the ballot.
A SPLOST approved in 2007 will end on June 1, 2017, so this fifth SPLOST referendum would simply pick up where that one finished — approving the option on the ballot in November would not increases sales taxes more than they are now.
SPLOST V would be used to fund up to about $35 million in capital outlay projects and up to about $159 million for debt service retirements, said Rick Gunn, chief financial officer for Forsyth County Schools.
A maximum revenue of about $195 million could be collected from this SPOLST program, Gunn said.
Voters will have the choice to approve or deny this SPLOST continuation on their ballot when they vote for President and local elected offices in November.