According to Feasibility Study Committee Chair Debbie Quinn, Dr. Ira Harvey's (Phd.) study will not be completed until May (due to a delay in obtaining data from the city administration).
Quinn said her hope is the study will conclude the city could form its own school system without any additional taxation/city revenue (since property values here are relatively higher and our contribution to the 10% Foundation Program may be less); and it was her understanding the city would retain its portion of the county's recently approved temporary (3 year) sales tax--if a city system could be formed before it expires.
If that should not be the case (or the city decided it would like a "better" system than the county's) --since the city's share of property tax is already at its legal maximum (5mils)-- any further property tax hikes would have to be approved first by the State Legislature, then by a local voter referendum.
Harvey recently found it was indeed feasible for the City of Chickasaw to form its own system, but not without an increased sales tax. Harvey has also done studies for Saraland, Gulf Shores and Daphne.