Truth in Taxation Public Hearing

TRUTH IN TAXATION PUBLIC HEARING NOTICE

THE GOGEBIC COMMUNITY COLLEGE BOARD OF TRUSTEES IS REQUIRED TO CONDUCT A PUBLIC HEARING ON DECREASING PROPERTY TAXES.  THE HEARING WILL BE HELD AT 6:00 P.M. ON JUNE 28, 2022, IN THE UPPER LEVEL OF THE DAVID G. LINDQUIST CENTER PRECEDING THE REGULAR MEETING OF THE BOARD. 

AS THE BOARD IS AWARE, WE ARE AUTHORIZED 1.50 MILLS AS A STATUTORY OPERATING MILLAGE, ALONG WITH A 20 YEAR VOTED 1.50 MILLS. DUE TO THE 2001 MILLAGE REDUCTION FRACTION (HEADLEE) OUR OPERATING MILLAGE WILL BE REDUCED TO 1.2990 MILLS AND OUR 20 YEAR (SITE) MILLAGE WILL BE REDUCED TO 1.4841 MILLS.

DUE TO AN INCREASE OF $13,938,953 IN TAXABLE VALUE, THE COLLEGE WILL REALIZE A TOTAL INCREASE OF $22,328 FROM THE TOTAL MILLAGE. THE REVENUE GENERATED FROM THE TOTAL MILLAGE AMOUNTS TO APPROXIMATELY 14.3% OF OUR OPERATING BUDGET.