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18-Mill Restoration 2nd HOMES & BUSINESS ONLY

The school currently collects 16.6753 for approximately $1,500,000 operational budget from business
and 2nd Home owners.
If the 18-Mills approved in 1996 is restored to 18 from 16.6753 the district would collect approximately
$1,600,000. If not passed by 2015 the amount collected by the district would be $0
SINGLE HOME OWNER TAXES WOULD NOT CHANGE IF THE 18-MILLS WERE RESTORED

Housing Examples:
2nd Home Valued at 100,000 (Approximate Taxable Value $40,000)
40,000 x 18 = 720,000 divided by 1,000 = 720
40,000 x 16.6753 = 667,012 divided by 1,000 = 667
Difference is the amount not collected by school - $53

2nd Home Valued at 200,000 (Approximate Taxable Value - $80,000)


80,000 x 18 = 1,400,000 divided by 1,000 = 1,440
80,000 x 16.6753 = 1,334,024 divided by 1,000 = 1,334
Difference is the amount not collected by school - $66

2nd Mobile Home Valued at 20,000 (Approximate Taxable Value - $8,000)


8,000 x 18 = 144,000 divided by 1,000 = 144
8,000 x 16.6753 = 133,402 divided by 1,000 = 133
Difference is the amount the school isnt collecting - $11

In all of the examples listed above the school district would collect $0 if not renewed by 2015
eliminating approximately $1,500,000 from the operational budget.

Business Examples:

Based on Taxable Values supplied from the St. Joseph & Cass County
Websites.

Constantine Antique Store


Taxable Value = 16,500
16,500 x 18 = 297,000 divided by 1,000 297
16,500 x 16.6753 = 275,142 divided by 1,000 = 275
Difference is the amount not collected by school = $22
Wolf Printing
Taxable Value = 10,900
10,900 x 18 = 196,200 divided by 1,000 = 196
10,900 x 16.6753 divided by 1,000 = 182
Difference is the amount not collect by school $14
Austin Cooper Insurance Agency
Taxable Value = 16,700
16,700 x 18 = 300,600 divided by 1,000 = 301
16,700 x 16.6753 = 278,477 divided by 1,000 = 278
Difference is the amount not collected by school $23
Southwest Michigan Bank & Trust
Taxable Value = 44,587
44,587 x 18 = 802.566 divided by 1,000 = 803
44,587 x 16.6753 = 743,501 divided by 1,000 = 744
Difference is the amount not collected by school = $59
Pike Lumber Company
Taxable Value = 21,604
21,604 x 18 = 388,872 divided by 1,000 = 389
21,604 x 16.6753 = 360,253 divided by 1,000 = 360
Difference is the amount not collected by school - $29
Finely Excavating
Taxable Value = 37,379
37,379 x 18 = 672,822 divided by 1,000 = 673
37,379 x 16.6753 = 623,306 divided by 1,000 = 623
Difference is the amount not collected by school = $50

Farm Examples:

Only those which are incorporated for all other farms there would be no change
if the 18-mills were restored.

Russell Farms (St. Joseph County)


Taxable Value = 396,153
396,153 x 18 = 7,130,754 divided by 1,000 = 7,130
396,153 x 16.6753 = 6,605,970 divided by 1,000 = 6,605 currently paid
Difference is the amount not collected by the school = $525
Walker Farms (Cass County)
Taxable Value = 176,900
176,900 x 18 = 3,184,200 divided by 1,000 = 3,184
176,900 x 16.6753 = 2,949,860 divided by 1,000 = 2,950
Difference is the amount not collect by the school = $234
Pioneer Hybrid Top Taxpayer in District
Taxable Value = 7,690,900
7,690,900 x 18 = 138,436,200 divided by 1,000 = 138,436
7,690,900 x 16.6753 = 128,248,064 divided by 1,000 = 128,248
Difference is the amount not collected by the school = $10,188
DeKalb 2nd Highest Taxpayer in District
Taxable Value = 5,521,100
5,521,100 x 18 = 99,379,800 divided by 1,000 = 99,380
5,521,100 x 16.6753 divided by 1,000 = 92,066
Difference is the amount not collected by school = $7,014

Manufacturing Park Examples:


Byler Electric
Taxable Value = 92,160
92,160 x 18 = 1,658,800 divided by 1,000 = 1,658
92,160 x 16.6753 = 1,536,795 divided by 1,000 = 1,536
Difference is the amount not collected by school - $122
North Central Coop
Taxable Value = 55,800
55,800 x 18 = 1,004,400 divided by 1,000 = 1,004
55,800 x 16.6753 = 930,481divided by 1,000 = 930
Difference is the amount not collected by school = $74
J & S Rentals
Taxable Value = 41,100
41,100 x 18 = 739,800 divided by 1,000 = 740
41,100 x 16.6753 = 685,354 = 685
Difference is the amount not collected by school = $55