What is the estimated cost of this bond program for the average taxpayer per year?
In the first year, the millage rate is projected to increase by 1.65 mills, over the 2019 debt levy of 2.45 mills, to a total of 4.1 mills.
A homeowner can use the following calculation to determine their individual tax increase. The calculation example is based on the actual average taxable value of the AAPS tax base ($138,001), which includes the City of Ann Arbor and parts of 8 townships.
For example, a house with an average taxable value of $138,001 (approx. market value of $276,002), the tax increase would be calculated on $138,001. The calculation: $138,001 / $1,000 x 1.65 = an annual tax increase of $228. A breakdown of tax impact for various home/taxable values follows: