This proposal would, replace, restore and extend the authority of the School District to levy the statutory limit of 18 mills on nonhomestead property (principally industrial and commercial real property and residential rental property) which currently expires with the School District’s 2024 tax levy and allow the School District to continue to levy the statutory limit of 18 mills on nonhomestead property in the event of future Headlee rollbacks of up to 3 mills. The authorization will allow the School District to continue to receive revenues at the full per pupil foundation allowance permitted by the State. Personal residences are exempt from this levy.
Shall the limitation on the total amount of taxes which may be assessed against all property, except principal residences and other property exempted by law,
situated within the Fraser Public Schools, County of Macomb, State of Michigan, be increased, in the amount of 21 mills with 18 mills being the maximum allowable levy ($18.00 on each $1,000 of taxable valuation), for a period of twenty (20) years, 2021 to 2040, inclusive with 17.4682 mills of the above 21 mills being a replacement of authorized millage which will otherwise expire on June 30, 2025 and 0.5318 mills of the above 21 mills being a restoration of millage lost as a result of the reduction required by the Michigan Constitution?
This operating millage if approved and levied, would provide estimated revenues to the School District of $5,700,000 during the 2021 calendar year, to be used for general operating purposes.