Operating Millage Renewal Proposal

This proposal will allow the school district to continue 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 2014 tax levy. Shall the currently authorized millage rate limitation of 18 mills ($18.00 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 Lakewood Public Schools, Ionia, Barry, Eaton and Kent Counties, Michigan, be renewed for a period of 10 years, 2015 to 2024, 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 2015 is approximately $1,617,695 (this is a renewal of millage which will expire with the 2014 tax levy)?