Partial Council Term1
This seat is a partial term that will end on 11/13/2017
CITY COUNCIL WOULD BE AUTHORIZED TO RENEW A LEVY OF 0.7 MILLS FOR FIVE YEARS FOR DEDICATED LIBRARY FUNDING WITH THE SUCCESSFUL PASSAGE OF THE FOLLOWING QUESTION:
Shall the City of Troy renew its previously authorized millage of 0.7 mills against all taxable property for a five (5) year period of time, 2016 through 2021, inclusive, for the dedicated purpose of operating and maintaining the library? 0.7 mills are equal to $0.70 on each $1,000.00 of taxable value. If approved, the additional millage levied will raise approximately $3,203,233 in 2016, the first year it is levied. Millage revenue would be disbursed to the City for library purposes. Of this amount, state law requires the capture of approximately $5,042 for Local Development Finance Authority, $52,808 for Downtown Development Authority, and $3,197 for Brownfield Redevelopment Authority purposes. This proposal is authorized under Section 6 of Article IX of the Michigan Constitution.
Local School District Proposal3
TROY SCHOOL DISTRICT
COUNTY OF OAKLAND
STATE OF MICHIGAN
OPERATING MILLAGE PROPOSAL
This proposal, if approved by the electors, will allow the Troy School District to continue to levy the number of operating mills required for the School District to receive revenues at the full per pupil foundation allowance permitted by the State of Michigan.
Shall the limitation on the total amount of taxes which may be assessed against all property, except principal residence and other property exempted by law, situated within the Troy School District, County of Oakland, State of Michigan, be increased as provided in the Michigan Constitution, in the amount of 18.3795 mills with 18 mills being the maximum allowable levy ($18.00 on each $1,000 of taxable valuation), and against all principal residences and other property not exempted by law, by 5.99 mills ($5.99 on each $1,000 of taxable valuation), both millages to be for a period of nine (9) years, 2016 to 2025, inclusive with 17.8795 mills of the above 18.3795 mills and 5.99 mills being a renewal of authorized millages which would otherwise expire on December 31, 2015 and 0.1205 mills of the above 18.3795 mills being a restoration of millage lost as a result of the reduction required by the Michigan Constitution? These operating millages if approved and levied, would provide estimated revenues to the School District of Thirty Three Million Five Hundred Eighty Three Thousand ($33,583,000) Dollars during the 2016 calendar year, to be used for general operating purposes.