Removes described property from the Mills River corporate limits. Provides that the deannexation has no effect upon the validity of any liens of the town for ad valorem taxes or special assessments outstanding before the effective date of this act. Allows the liens to be collected or foreclosed upon after the effective date of this act as though the property were still within the town's corporate limits. Specifies that deannexed property is located within the Etowah-Horse Shoe Fire District. The taxpayers in the deannexed property area are no longer required to pay taxes on their property to the town after the effective date of this act, but they are required to pay property taxes levied by Henderson County. Requires the deannexed area to continue to be subject to the zoning ordinances of the town for a maximum of 90 days after the effective date of this act to allow Henderson County an opportunity to determine and apply a county zoning designation for the property. Upon the expiration of the 90-day period, the town will have no zoning or any other authority over the deannexed property area. Effective July 1, 2013.