Cobb residents vote to extend education SPLOST

10:49 PM, Mar 19, 2013   |    comments
(AP file)
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 PDF Document: Cobb SPLOST

MARIETTA, Ga. -- Voters in Cobb County have voted to extend the county's Special Local Option Sales Tax (SPLOST) for education.

57 percent of Cobb County voters voted YES while 43 percent of voters voted NO. The one percent sales tax will be used to fund earmarked capital improvements at county schools over the next five years.

Opponents to the tax contested that taxpayers had paid enough, and that school system expenditures should come from existing property tax revenues.  

The school system points out that the tax differs from a bond issue in that there is no interest to be paid back on SPLOST funds, since they are generated by taxes. Prior versions of the SPLOST have been used to pay off the school system's overall debt.

Cobb officials said there is a proposed expenditure of more than $717 million that would be paid for by the SPLOST. They point to replacements for two high schools -- Osborne and Walton -- one middle school and two elementary schools that would be funded by the new taxes. Other major construction projects at eight high schools, one middle school and five elementary schools would be tied to the new tax.

The school system has released a list of projects that would be tied to the SPLOST.

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