NICE Community School District Sinking Fund Tax Levy Proposal (May 2013)
If approved, this measure authorizes the NICE Community School District to impose a property tax levy of 1.75 mills ($1.75 per $1,000 of assessed valuation) for 10 years in order to provide a sinking fund to be used for construction and repairs of the district. 1.6373 mills of this tax is a renewal of an expiring tax while the remaining 0.1127 mill is an increase in taxes. The estimated first year revenue from this combined total tax is $361,748.
Text of measure
Language on the ballot:
|“||This proposal renews building and site sinking fund millage that will expire with the 2013 tax levy and restores millage lost as a result of the reduction required by the Michigan Constitution of 1963.
Shall the limitation on the amount of taxes which may be assessed against all property in NICE Community School District, be increased by and the board of education be authorized to levy 1.75 mills ($1.75 on each $1,000 of taxable valuation) for a period of 10 years, 2014 to 2023, inclusive, for sinking fund purposes to be used for the construction and repair of school buildings and all other purposes authorized by law (1.6373 mills of the above is a renewal of millage for building and site sinking fund purposes which will expire with the 2013 tax levy and .1127 mill is to restore millage for the same purpose lost as a result of of the reduction required by the Michigan Constitution of 1963); the estimate of the revenue the school district will collect if the millage is approved and levied in 2014 is approximately $361,748?
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