KND Schools
Zero-Mill Information
What is a “zero mill increase” bond proposal?
The Board recently voted to refund our current bonds at a lower rate. As a result, taxes will be reduced by approximately .8 mills starting with the 2020 levy. However, if the bond is passed, the .8 mills are expected to be added back on and extended for 2 years. Therefore, even though we would be adding those .8 mills back on, neither tax amounts nor mills, are expected to increase. They are expected to remain the same. Thus, it is called a “zero mill increase.” However, the taxes generated by the .8 mills would be paid over 2 additional years.
When is the election?
It is Tuesday, Nov. 5th of 2019.
How much money is being sought?
The school district is seeking to generate 2.775 million dollars.
How much will the approximate .8 mills cost me?
The cost for .8 mills equals 80 cents for every $1,000 of taxable evaluation. (Taxable evaluation is usually about half of the market value.) However, please remember that voters are already currently paying this.
Will this increase the length of the current bond debt?
Yes. The current bond debt was set to expire in 2025. If this proposal passes, the tax rate is expected to be extended for an additional 2 years.
Will this cost me any “new money?”
As stated previously, the current bonds were set to expire in 2025. Therefore, the only “new” or “additional” money that is expected would occur after 2025. The amount is expected to be the same. However, if the bond passes, it would be paid for 2 more years. This is the only “new money” would be incurred by the voters.
How will the District use the funds?
We are looking to replace our roofs. Some of them have been pushed to the end of their life cycle. We would also build a bus barn to house our buses. In addition, we would like to purchase new buses. We would also purchase new student computers and upgrade classroom technology. We would replace boilers. We would install handicap accessible bleachers complete with handrails. If our money allows, we would also like to install an electric sign, replace some carpeting, replace some heating units, and provide an additional playscape. If there are still additional funds remaining, we would spend them on capital projects per our ballot language.
All funds will be used on the Brethren facility only.
Can the bond money be used to pay for personnel?
No. Money generated from a bond cannot be used to pay wages or benefits. It must be used for purposes outlined in the ballot language. In this case, we are talking about capital improvement projects only.
When was the last bond proposal passed?
May of 2005.
How long would the District have to spend the funds?
The District has approximately 3 years to spend the money generated by the bond.
If you have any questions, or would like further clarification, please contact Marlen Cordes at 231-477-5355, ext. 2200. You could also email at cordesm@manistee.org