Kent City — Kent City voters will have the opportunity on May 3 to decide on five-year renewals of the school district’s operating and sinking funds, which both expire this year.
The non-homestead operating fund millage, currently set at a rate of 17.7881 mills, provides about 4% of the district’s total budget, Superintendent Bill Crane said. It is expected to bring in about $609,355 in revenue in 2023.
The operating millage is only levied on non-homestead property including businesses, commercial and investment properties, vacation homes and rental properties. The current mill rate comes out to $1,780 on property valued at $100,000, or $4,450 on property valued at $250,000.
The sinking fund millage, set at a rate of 0.9783 mill (or about 98 cents on every $1,000 of taxable valuation), is expected to bring in about $242,911 in 2023. That mill rate comes out to a tax of about $98 on property including primary residences worth $100,000, or about $245 on property worth $250,000.
Sinking funds are intended to cover building-related expenses for school districts, such as purchase of real estate, construction and repair of buildings and upgrades.
Superintendent Bill Crane said he expects the fund will continue to be used for light replacement, boiler work and resurfacing floors, as well as site improvements around the district.
In the past, the fund has covered lighting replacement and upgrades in all the district’s buildings, site improvements at the elementary school, repair and replacement of boilers at Kent City High School, HVAC upgrades at the middle school and annual resurfacing of gymnasium floors at both the high school and middle school.