Saginaw City School District Levy Renewal Proposal (November 2012)
If approved, this proposal authorizes the City of Saginaw to renew a property tax levy of 20.45 mills ($20.45 per $1,000 of assessed valuation) for 10 years in order to fund the operating costs of the District. The estimated first year revenue from this tax is $6,300,000.
Text of measure
Language on the ballot:
|“|| This proposal will allow the School District of the City of Saginaw to levy the statutory rate of 18 mills on all property, except principal residence and other property exempted by law, required for the school district to receive its revenue per pupil foundation allowance and renews millage that will expire with the 2012 tax levy.
Shall the currently authorized millage rate limitation of 20.45 mills ($20.45 on each $1,000 of taxable valuation) on the amount of taxes which may be assessed against all property, except principal residence and other property exempted by law, in the School District of the City of Saginaw, Saginaw County, Michigan, be renewed for a period of ten years, 2013 through 2022, inclusive, to provide funds for operating purposes; the estimate of the revenue the school district will collect if the millage is approved and levied in 2013 being approximately $6,300,000?