Howell Schools Lowers Rate for District TaxpayersHowell Schools Lowers Rate for District Taxpayers

6/19/14 - The tax rate for Howell Public Schools will be reduced in the upcoming budget year. The district had a debt obligation property tax of 7.7 mills this year. However, the district’s 2004 Refunding bonds were recently refunded, restructuring that debt to produce lower interest rates and a more favorable payment schedule. This produced significant savings for the district which, coupled with a small increase in taxable property values, has allowed the schools to reduce the millage on residents. The new millage will be 7.06 mills, a decrease of roughly 8.4% over the previous year. A homeowner with a taxable property value of $100,000 will save $64 per year under the new tax rate. (TD)