 |
 |
Proposal Text
|
|
Operating Millage Renewal Proposal Exempting Principal Residence,
Qualified Agricultural Property and Qualified Forest Property
This proposal will allow the school district to continue to levy the
statutory rate of 18 mills on all property except principal residence,
qualified agricultural property and qualified forest property required
for the school district to receive its revenue per pupil foundation
allowance.
Shall the limitation on the amount of taxes which may be
assessed against all property, exempting therefrom principal
residence, qualified agricultural property and qualified forest
property as defined by law, in Grant Public Schools, Newaygo, Kent and
Muskegon Counties, Michigan, be increased by 18 mills ($18.00 on each
$1,000.00 of taxable valuation) for the year 2007, to provide funds
for operating purposes; the estimate of the revenue the school
district will collect if the millage is approved and levied in 2007 is
approximately $858,275 (this is a renewal of millage which expired
with the 2006 tax levy)?
This proposal will allow the school district to continue to levy the
statutory rate of 18 mills on all property except principal residence,
qualified agricultural property and qualified forest property required
for the school district to receive its revenue per pupil foundation
allowance.
Shall the limitation on the amount of taxes which may be
assessed against all property, exempting therefrom principal
residence, qualified agricultural property and qualified forest
property as defined by law, in Newaygo Public School District, Newaygo
County, Michigan, be increased by 18 mills ($18.00 on each $1,000.00
of taxable valuation) for the year 2007, to provide funds for
operating purposes; the estimate of the revenue the school district
will collect if the millage is approved and levied in 2007 is
approximately $2,441,415 (this is a renewal of millage which expired
with the 2006 tax levy)?
This proposal will enable the school district to levy the statutory
rate of 18 mills on all property except principal residence, qualified
agricultural property and qualified forest property required for the
school district to receive its revenue per pupil foundation
allowance.
Shall the limitation on the amount of taxes which may be
assessed against all property, exempting therefrom principal
residence, qualified agricultural property and qualified forest
property as defined by law, in White Cloud Public Schools, Newaygo
County, Michigan, be increased by 2 mills ($2.00 on each $1,000.00 of
taxable valuation) for a period of 3 years, 2007, 2008 and 2009, to
provide funds for operating purposes; if approved, the estimate of the
revenue the school district will collect the first year of levy, 2007,
is approximately $2,550 (this millage is to restore millage lost as a
result of the reduction required by the Michigan Constitution of 1963
and will be levied only to the extent necessary to restore that reduction)?
Shall the White Cloud Community Library, formed by the City of White Cloud, Everett Township, Merrill Township and the White Cloud Schools, County of Newaygo, Michigan, borrow the sum of not to exceed Two Million One Hundred Thousand Dollars ($2,100,000) and issue its general obligation unlimited tax bonds therefore, payable in not to exceed twenty (20) years from date of issuance, for the purpose of paying all or part of the costs of acquiring land, constructing, furnishing and equipping a new library building, and improving the sites therefore? The estimated millage to be levied in 2007 is .80 mill ($.80 per $1,000 of taxable value) and the estimated simple average annual millage rate required to retire the bonds is .72 mill ($.72 per $1,000 of taxable value).
