OPERATING MILLAGE RENEWAL

This proposal will allow the School District to continue to levy not more than the statutory rate of 18 mills against all property except principal residence and other property exempted by law, required for the School District to receive its revenue per pupil foundation allowance. Shall the previous voted increase in the constitutional tax rate limitation on the amount of taxes imposed upon all property, except principal residence and other property exempted by law, within the school district of Lowell Area Schools, Kent and Ionia Counties, Michigan, be renewed in the amount of 18.00 mills ($18.00 per $1,000 of taxable valuation) for a period of five (5) years, 2012 through 2016, inclusive, to provide funds for school operating purposes (such renewal is estimated to provide revenues of approximately $2,753,000 in 2012 and includes a renewal of previously authorized millage in the amount of 18.00 mills which expired with the 2011 tax levy)? There are tax increment authorities in the school district that capture and retain for authorized purposes tax increment revenues from property taxes levied by the School District. Such capture would include a portion of this millage levy. The total amount of captured tax increment revenues from such millage in the first calendar year of the levy is estimated to be $46,546. The following tax increment authorities in the School District presently capture a portion of the school district's property tax levy: City of Lowell - Downtown Development Authority.