COMSTOCK PARK PROPOSAL -- 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 qualified agricultural property required for the school district to receive its revenue per pupil foundation allowance. Shall the limitation on the amount of taxes which may be assessed against all property, exempting therefrom principal residence and qualified agricultural property as defined by law, in Comstock Park Public Schools, Kent County, Michigan be increased by 19 mills ($19.00 on each $1,000.00 of taxable valuation) for a period of 5 years, 2006 to 2010, inclusive, to provide funds for operating purposes (18 mills of the above is a renewal of millage which expired with the 2005 tax levy and 1 mill is a restoration of millage lost as a result of the reduction required by the Michigan Constitution of 1963 and will be levied only to the extent necessary to restore that reduction); the estimate of the revenue the school district will collect if the millage is approved and levied in 2006 is approximately $2,380,000?