Ann Arbor Public Schools

2004 Instruction and Facilities Initiative

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Community Investment Information

Goal:

  • To calculate the estimated cost to a homeowner for the proposed bond and sinking fund ballot issues

Features and Benefits:

  • Combination of approved bond and sinking fund will be a net of .20 mills to a homeownerâs annual taxes
  • Retirement of existing debt allows the total tax cost to be a net reduction to the total tax levy
  • Annual tax impact will decrease over the length of the program as school valuation increases

Schedule:

  • 25-year bond, 5-year sinking fund

Estimated cost:

Home
Market
Value		 Home
Taxable
Value		 25 Yr. Bond
Proposal Annual
Increase		 5 Yr. Sinking
Fund Annual
Decrease		 Combined
Proposals Annual
Decrease
$200,000 $100,000 $30 $(50) $(20)
$300,000 $150,000 $45 $(75) $(30)
$400,000 $200,000 $60 $(100) $(40)
$500,000 $250,000 $75 $(125) $(50)

Due to retiring debt there is a net decrease in taxes!

 

Click on any chart below to view it at full size.

 

Predicted reduction to existing tax levy with passage of bond and fund.

 

Preliminary Capital Financing Tax Levy Impact

 

Comparable Districts' Millage Rates - Residential

 

Comparable Districts' Millage Rates - Commercial

 

WISD Districts' Millage Rates - Residential

 

WISD Districts' Millage Rates - Commercial