Holt Public Schools: operating millage renewal

The question, as printed on the ballot

This proposal will allow the school district to continue to levy the statutory rate of not to exceed 18 mills on all property, except principal residence and other property exempted by law, required for the school district to receive its revenue per pupil foundation allowance and renews millage that will expire with the 2026 tax levy. The remaining .6176 mill is only available to be levied to restore millage lost as a reduction required by the Michigan Constitution of 1963 and will only be levied to the extent necessary to restore that reduction.Shall the currently authorized millage rate limitation of 18.6176 mills ($18.6176 on each $1,000 of taxable valuation) on the amount of taxes which may be assessed against all property, except principal residence and other property exempted by law, in Holt Public Schools, Ingham and Eaton Counties, Michigan, be renewed for a period of 10 years, 2027 to 2036, inclusive, to provide funds for operating purposes; the estimate of the revenue the school district will collect if the millage is approved and 18 mills are levied in 2027 is approximately $6,750,000 (this is a renewal of millage that will expire with the 2026 tax levy)?