Farmington Public Schools (FPS) said Michigan’s 2021 School State Aid Budget translates into lower property taxes for homeowners who live within district boundaries.
The budget, approved in July, sets the state-provided foundation aid for all school districts at $8,700. FPS can also levy a $2,067 per pupil “hold harmless” millage. When Proposal A promoted more equity in school funding, the state allowed wealthier districts to levy an amount that maintained pre-proposal revenues.
So as not to exceed a $10,576 total foundation allowance, state officials have required the district to reduce the local levy to $1,876. That reduces the local millage rate and taxes.
“To provide a simple explanation–the State is now funding more of our foundation allowance and reducing the taxes on our residential taxpayers,” said Jennifer Kaminski, Assistant Superintendent of Business Services. “The total mills for homestead and industrial personal properties will go from 6.8796 mills to 6.2482, a reduction of 0.6314 mills which will occur in the December 2021 tax levy.”
For a home with a taxable value of $100,000, this amounts to a saving of about $63.