GRAND RAPIDS, Mich. (GRPS) -- In the latest Reimagine Vlog, GRPS Superintendent Dr. Leadriane Roby reminds voters that a sinking fund millage for Grand Rapids Public Schools is on the August 4 ballot.
A sinking fund is a limited property tax used to fund building maintenance, infrastructure, and technology projects on a “pay-as-you-go” basis. Sinking funds are primarily used for major repairs, renovations, and construction of school buildings, as well as technology upgrades and school security improvements. Unlike bonds, a sinking fund does not create debt or incur interest. The tax is collected annually, and the revenue is specifically allocated for facility repairs and upgrades. All funds are publicly reported on the district’s website, and an independent audit is conducted annually by the state to ensure transparency and accountability.
Many neighboring districts, including Kentwood, East Grand Rapids, Godwin Heights, Grandville, and Wyoming, have or have recently had sinking funds. In 2011, taxpayers approved a 1.0 mill sinking fund for five years for GRPS, which expired at the end of 2016.
The current 0.95 millage proposal would cost a homeowner with a $300,000 market value and a $150,000 taxable value approximately $142.50 annually, $11.88 monthly, or $0.39 daily. Funding would focus on facility needs such as repairing roofs, updating plumbing, and ensuring HVAC systems and windows are efficient. If approved, this proposal is expected to generate approximately $7 million annually for the district.
Currently, GRPS has a total millage debt rate of 3.85, ranking 24th out of 27 school districts in Kent County. If approved, 20 other school districts would still have a higher millage debt rate than GRPS.
For more information, please visit grpsmillage.com.
