Frankenmuth

on major improvements. The Board of Education worked closely with our administrators and architect to develop the next package of projects. I'd like our community to remember that when voters approved the District's last bonding proposal in 2000, we levied 3.39 mills in the first year. After the bonds were issued, we were able to reduce that debt millage to its current rate of 2.18 mills. This is primarily due to two factors: The District refinanced the bonds in 2005 and 2015, which saved approximately $1 million. The second factor was the overall growth in the taxable value of the properties in the District." Proposal 2 is a renewal of the 2 mills sinking fund levy. In 2014, Frankenmuth voters approved two sinking fund millage proposals, one for 0.5 mill and the other for 1.5 mills. The District has combined both millages into a single 2.0 mills five-year renewal proposal. The primary purpose of the five-year sinking fund proposal is to finance ongoing repairs in the District. Sinking funds have been used in Frankenmuth since 1965. Sinking fund monies have allowed the District to repair buildings and facilities and keep them up-to-date, allowing the District to use more operating funds for educating its students. Some of the projects that the sinking fund monies will be used for in the next five years are roof and window replacements (List and the High School), parking lot improvements, and heating, ventilation, and cooling improvements (List and the High School). School District Business Manager Phil Martin commented on the sinking fund, "The sinking fund allows our District to pay for smaller renovations as we go, without having to borrow money and pay interest in order to do so. It also avoids allowing our schools to deteriorate for ten or fifteen years before asking voters to consider another bonding proposal." Proposal 3 is the non-homestead operating millage – In 2014, voters also approved a non-homestead operating millage proposal. If approved by voters, school districts can levy up to 18 mills of operating millage on industrial, commercial, business, rental, and second homes. The District's non-homestead operating millage is an important component of the District's per pupil foundation allowance. It generates approximately $3.2 million annually and supports approximately 30% of the District's annual operating budget. The non-homestead millage is not levied on primary residences so it will have no impact on the taxes of owner- occupied residential property. Superintendent Adele Martin commented on the ballot proposals, "I am so blessed to work in a district that has such a positive history of taxpayer support. Our voters have always understood that strong schools are a part of a strong community. I am pleased that the Board of Education and administration were able to put together three proposals that will maintain and improve our schools, and that neither the bond proposal nor the sinking fund millage proposal will require a tax increase." 17 Serving Frankenmuth for 45 Years! Michigan Association of REALTORS ® National Association of REALTORS ® Saginaw Board of REALTORS ® Multiple Listing Service Graduate REALTORS ® Institute Multi-Million Dollar Sales Producer Scott R. Rausch REALTOR GRI 989-529-9671 scott@rauschrealtors.com Professionals in all phases of real estate 422 North Main Street • Frankenmuth, MI 48734 OFFICE: 989-652-3238 • FAX: 989-652-2299 www.rauschrealtors.com Tiffany N. Rausch Office Manager/REALTOR 989-529-9673 tiffanynrausch@yahoo.com Member of...

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