LOWELL AREA SCHOOLS -- Operating Millage Renewal

This millage 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 qualified agricultural property required for the school district to receive its revenue per pupil foundation guarantee. Shall the previous voted increase in the constitutional tax rate limitation on the amount of taxes imposed upon all property, excluding principal residence and qualified agricultural property, within the school district of Lowell Area Schools, Kent and Ionia Counties, Michigan, be renewed in the amount of 18 mills ($18.00 per $1,000 of taxable valuation) for a period of three (3) years, 2009 through 2011, inclusive, to provide funds for operating purposes (such renewal is estimated to provide revenues of approximately $2,958,420 in 2009 and includes a renewal of previously authorized millage in the amount of 17.6924 mills and a new additional millage of 0.3076 mills to restore millage lost as a result of the Headlee reduction) 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 $56,600. The following tax increment authorities in the school district presently capture a portion of the school district's property tax levy: City of Lowell - DDA