Property tax exemption passesPublished 12:01am Wednesday, May 1, 2013
The Lurleen B. Wallace Community College Foundation took a giant step toward savings when the Alabama Legislature passed HB4, a bill that exempts all property owned and used by the Foundation from state, county, and local sales and ad valorem taxes.
Gov. Robert Bentley is expected to sign the bill this week.
“Thanks to Rep. Mike Jones and Sen. Jimmy Holley for their steadfast support of this bill throughout the legislative process,” said LBW Community College President Dr. Herb Riedel.
Once signed by Gov. Bentley, the Foundation will experience immediate savings in material costs during the construction phase and long-term savings in ad valorem taxes each year, making it possible to keep rents low, said Kent Campbell, Saints Hall developer and manager.
Construction on Saints Hall began in March and will be completed and ready for occupancy by the beginning of fall semester in August. For more information, call Campbell at 205-532-6412, or visit the Saints Hall website at www.Saints-Hall.com.