All licenses issued hereunder shall be for a term of one year. If the application is made during the period beginning on the first day of March and ending on the last day of May, only one-half of the license fee shall be charged and collected. If the application is made during the period beginning on the first day of June and ending on the last day of September, only one-fourth of the license fee shall be charged and collected.

(Code 1964, § 11.780)