Bloomfield Hills Schools Financial Info & More | Bond 2020

Between now and August 4, 2020, this page will continue to expand to reflect the questions of our community.  If you have a question about Bond 2020, please reach out using the "Feedback & Questions" feature.

 

Tax Calculator

Use your home's taxable value to calculate the amount your taxes would increase as a result of this bond.

Slideshows & Videos

Miss a presentation? Check out all of the presentations and videos of recorded presentations.

Critical Needs

Learn more about the Technology & Facility Assessment and the identified critical needs.

 

Tax Rate

The proposed Bloomfield Hills Schools Bond Tax Rate Increase of 1.85 mills would place Bloomfield Hills Schools as the 5th lowest in Oakland County (if all other district tax rates remained constant from 2019).

On the tax calculator - why is Annual Household Income a factor?

Due to the Michigan Homestead Property Tax Credit, households that pay homestead property taxes greater than 3.2% of their annual income may be eligible for the Michigan’s Homestead Property Tax Credit.  Eligible households may deduct up to 60% (up to 100% for senior citizens) of the millage increase cost up to a $1,500 Homestead Tax Credit limit.  The eligibility for the credit begins to decrease after household income exceeds $51,001 and ends completely after the household income exceeds $60,001.

BOE Meeting - Cynthia von Oeyen: January 30, 2020
BOE Meeting - Mark Bank: January 16, 2020
 

Technology& Facility Assessment

Identifying $33 million in critical needs...

The Facilities and Tech assessment, which was presented to the Board of Education in the 2018-2019 school year, revealed $33 million in critical needs over the next three years (2019/2020, 2020/2021, and 2021/2022 school years). The Sinking Fund covers approximately $2 million in work each year. Without another funding source, the district will need to manage the decline of both technology and facilities. 

 

What is a "Sinking Fund"?

 

On May 8, 2018, voters in Bloomfield Hills Schools were asked to consider a .7165 mill, six-year sinking fund replacement (to replace the previous sinking fund, which was set to expire in December of 2018).

 

A sinking fund is a savings account into which a local school district can deposit voter-approved local millage revenue in order to pay cash for the most urgent building projects or repairs as they arise. Sinking funds provide districts with a cost-effective alternative to borrowing or bonding for some expenditures because they require none of the associated legal fees or incurred interest.

 

The voters approved the .7165 mill, six-year sinking fund on May 8, 2018.

 
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Election Timeline

  • July 21, 2020 - Absent voter ballots must be available for issuance to voters.

  • July 31, 2020 - Last day to register in any manner other than in-person with the local clerk for the August election.

  • August 1 through 8:00 p.m. August 4 - In-person registration with local clerk with proof of residency.

  • July 31, 2020 - Deadline to obtain an absent voter ballot via First Class mail.

  • August 3, 2020 at 4:00 p.m. - Deadline to obtain an absent voter ballot in person in the clerk's office.

  • August 4, 2020 - ELECTION DAY: Polls open from 7 a.m. to 8 p.m.