Sunday, July 22, 2012

Muskegon Heights school debt includes $1.4 million owed to employees

Muskegon Heights school debt includes $1.4 million owed to employees | MLive.com
The district also owes $6.3 million on a state loan.
The state has been garnishing the district’s per-pupil funding for payments on the loan and will take all of the district’s August payment.
Weatherspoon plans to pay off the school district’s debt with proceeds from an 18-mill nonhomestead property tax levied on businesses and homes that aren’t the owner’s principal residence, such as rental homes.
That plan depends on voters in November agreeing to renew the property tax, which Demetriou said raises about $1.2 million per year, though that number has been dropping.
Voters will be asked to approve a five-year renewal.

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