Questions for the
Aug. 5 Primary Election
I. BONDING PROPOSITION
Shall the Belleville Area District Library, formed by City of Belleville, Charter Township of Van Buren, and Township of Sumpter, each in the County of Wayne, State of Michigan, borrow the sum of not to exceed Nineteen Million Fifty Thousand Dollars ($19,050,000) and issue its general obligation unlimited tax bonds for all or a portion of that amount for the purpose of constructing, furnishing and equipping a new building for library purposes; constructing renovations to, furnishing and refurnishing and equipping and re-equipping an existing building for library purposes; and acquiring sites for library buildings?
The following is for
informational purposes only:
The estimated millage that will be levied for the proposed bonds in 2014 is 1.08 mill ($1.08 on each $1,000 of taxable valuation). The maximum number of years the bonds may be outstanding, exclusive of any refunding, is twenty (20) years. The estimated simple average annual millage anticipated to be required to retire this bond debt is 0.96 mill ($0.96 on each $1,000 of taxable valuation).
II. DISTRICT LIBRARY OPERATING MILLAGE PROPOSAL
This proposal will allow the District Library to levy additional millage in the City of Belleville, Charter Township of Van Buren, and Township of Sumpter for library operating purposes.
Shall the limitation on the amount of taxes which may be assessed against all taxable property within the geographic boundaries of the Belleville Area District Library, Wayne County, Michigan, be increased by 1 mill ($1.00 on each $1,000 of taxable valuation) for a period of 20 years, 2014 to 2033, inclusive, to provide funds for library operating purposes; the estimate of the revenue the District Library will collect if the millage is approved and levied in 2014 is approximately $1,352,779, of which the District Library will receive $1,224,806 and the following entities will capture a portion of the revenues: Belleville Downtown Development Authority ($24,891), Van Buren Township Downtown Development Authority ($73,050), and Van Buren Township’s Local Development Financing Authority ($30,032)?
What will a mill cost me?
A mill equals $1 of tax for every $1,000 of taxable value of your property.
For example, if your house is worth $100,000 in market (assessed) value and has a taxable value of $50,000, 1 mill will equal $50 in tax a year.
The library ballot proposals for Aug. 5 are for 1.08 mills, for the first year, to pay off the construction bond, plus 1 mill more for operations. That would be $54 + $50 for a total of $104 in new taxes a year. Both millages are for 20 years.
Also, the 2-mill proposal for five years from RESA on the Aug. 5 ballot to get money for the school districts in Wayne County would cost the same homeowner above another $100 in new taxes, if it passes.
To get the exact amount it would cost you for your property, get out the “Notice of Assessment” all property owners were mailed earlier this year and look for the “Taxable Value” entry. The tax would be $1 for every $1,000 of your taxable value.
– Rosemary K. Otzman, editor