Greenville Public Schools -- Operating Millage Proposal

This proposal will allow the school district 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 (17.90 mills is a renewal of millage which expired with the 2010 tax levy and .10 mill is a restoration of 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, except principal residence and other property exempted by law, in Greenville Public Schools, Montcalm, Kent and Ionia Counties, Michigan, be increased by 18 mills ($18.00 on each $1,000 of taxable valuation) for a period of of 5 years, 2011 to 2015, 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 2011 is approximately $3,865,750?