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					   $22,825,000 Bond Amount NOTE: No one can predict the future, but these scenarios are illustrative of the real life effect of a bond extension.
FERNDALE PUBLIC SCHOOLS
PROPOSED 2012 SCHOOL BUILDING AND SITE BONDS                Zero Millage Increase over the Current Debt Millage
Worst Case Taxable Value Projection
INPUT THE TAXABLE VALUE OF YOUR HOME IN CELL B8
                                                                                                Millage Projection   Annual Tax with    Estimated Difference
      Year of          Property      Worst Case Taxable 2004 Existing Debt   Annual Tax for      with New 2012         New 2012        Between 2004 and 2012
     Debt Levy       Taxable Value    Value Projection        Mills        Existing 2004 Debt    Bond Extension        Extension           Bond Payments
      2011                  51,000                                   7.00            357.00                  7.00             357.00                    0.00
      2012                  48,195              -5.50%                7.00            337.37                  7.00            337.37                    0.00
      2013                  47,297              -1.86%                6.75            319.25                  7.00            331.08                   11.82
      2014                  46,415              -1.86%                6.90            320.27                  7.00            324.91                    4.64
      2015                  45,550              -1.86%                7.00            318.85                  7.00            318.85                    0.00
      2016                  44,701              -1.86%                7.00            312.91                  7.00            312.91                    0.00
      2017                  43,868              -1.86%                7.00            307.08                  7.00            307.08                    0.00
      2018                  43,051              -1.86%                6.86            295.53                  7.00            301.36                    5.83
      2019                  42,249              -1.86%                6.63            280.05                  7.00            295.74                   15.69
      2020                  41,461              -1.86%                6.41            265.80                  7.00            290.23                   24.43
      2021                  40,688              -1.86%                3.91            159.22                  7.00            284.82                  125.60
      2022                  39,930              -1.86%                2.38             94.86                  7.00            279.51                  184.65
      2023                  39,186              -1.86%                2.31             90.55                  7.00            274.30                  183.75
      2024                  38,456              -1.86%                0.00              0.00                  7.00            269.19                  269.19
      2025                  37,739              -1.86%                0.00              0.00                  7.00            264.17                  264.17
      2026                  37,036              -1.86%                0.00              0.00                  7.00            259.25                  259.25
      2027                  36,346              -1.86%                0.00              0.00                  7.00            254.42                  254.42
      2028                  35,668              -1.86%                0.00              0.00                  7.00            249.68                  249.68
      2029                  35,003              -1.86%                0.00              0.00                  7.00            245.02                  245.02
      2030                  34,351              -1.86%                0.00              0.00                  7.00            240.46                  240.46
      2031                  33,711              -1.86%                0.00              0.00                  7.00            235.98                  235.98
      2032                  33,083              -1.86%                0.00              0.00                  7.00            231.58                  231.58
      2033                  32,466              -1.86%                0.00              0.00                  7.00            227.26                  227.26
      2034                  31,861              -1.86%                0.00              0.00                  7.00            223.03                  223.03
      2035                  31,267              -1.86%                0.00              0.00                  7.00            218.87                  218.87
      2036                  30,685              -1.86%                0.00              0.00                  7.00            214.79                  214.79
      2037                  30,113              -1.86%                0.00              0.00                  7.00            210.79                  210.79
      2038                  29,552              -1.86%                0.00              0.00                  7.00            206.86                  206.86
      2039                  29,001              -1.86%                0.00              0.00                  7.00            203.01                  203.01
      2040                  28,460              -1.86%                0.00              0.00                  6.94            197.47                  197.47
      2041                  27,930              -1.86%                0.00              0.00                  2.90             80.87                   80.87
      2042                  27,409              -1.86%                0.00              0.00                  0.00              0.00                    0.00
                                                         Total Tax Payment            $3,102     Total Tax Payment            $7,691                  $4,589
$22,825,000 Bond Amount             NOTE: No one can predict the future, but these scenarios are illustrative of the real life effect of a bond extension.
FERNDALE PUBLIC SCHOOLS
PROPOSED 2012 SCHOOL BUILDING AND SITE BONDS Zero Millage Increase over the Current Debt Millage
Conservative Taxable Value Projection
INPUT THE TAXABLE VALUE OF YOUR HOME IN CELL B8

                                                                                                                                               Estimated Difference
         Year of                          Conservative Taxable                       Annual Tax for     Millage Projection   Annual Tax with    Between 2004 and
       Debt Levy Taxable Value              Value Projection   Existing Debt Mills   Existing Debt       with New Debt         New Debt        2012 Bond Payments
          2011                   60,000                                      7.00              420.00                7.00             420.00                  0.00
          2012                   56,700                -5.50%                 7.00             396.90                 7.00            396.90                  0.00
          2013                   55,566                -2.00%                 6.76             375.63                 7.00            388.96                 13.34
          2014                   55,566                 0.00%                 6.75             375.28                 7.00            388.96                 13.68
          2015                   56,122                 1.00%                 6.72             377.00                 7.00            392.85                 15.85
          2016                   56,963                 1.50%                 6.58             374.79                 7.00            398.74                 23.95
          2017                   58,103                 2.00%                 6.13             356.21                 7.00            406.72                 50.51
          2018                   59,265                 2.00%                 5.82             345.16                 7.00            414.85                 69.69
          2019                   60,450                 2.00%                 5.45             329.47                 7.00            423.15                 93.69
          2020                   61,659                 2.00%                 5.07             312.70                 7.00            431.61                118.91
          2021                   62,892                 2.00%                 2.98             187.32                 7.00            440.25                252.93
          2022                   64,150                 2.00%                 1.74             111.60                 7.00            449.05                337.45
          2023                   65,433                 2.00%                 1.63             106.53                 7.00            458.03                351.50
          2024                   66,742                 2.00%                 0.00               0.00                 7.00            467.19                467.19
          2025                   68,077                 2.00%                 0.00               0.00                 7.00            476.54                476.54
          2026                   69,438                 2.00%                 0.00               0.00                 6.94            482.22                482.22
          2027                   70,827                 2.00%                 0.00               0.00                 2.05            144.98                144.98
          2028                   72,243                 2.00%                 0.00               0.00                 1.98            143.02                143.02
          2029                   73,688                 2.00%                 0.00               0.00                 1.88            138.68                138.68
          2030                   75,162                 2.00%                 0.00               0.00                 1.79            134.34                134.34
          2031                   76,665                 2.00%                 0.00               0.00                 1.70            130.00                130.00
          2032                   78,199                 2.00%                 0.00               0.00                 1.61            125.66                125.66
          2033                   79,763                 2.00%                 0.00               0.00                 1.55            123.57                123.57
          2034                   81,358                 2.00%                 0.00               0.00                 1.46            119.11                119.11
          2035                   82,985                 2.00%                 0.00               0.00                 1.38            114.65                114.65
          2036                   84,645                 2.00%                 0.00               0.00                 1.30            110.18                110.18
          2037                   86,338                 2.00%                 0.00               0.00                 1.28            110.23                110.23
          2038                   88,064                 2.00%                 0.00               0.00                 1.25            110.02                110.02
          2039                   89,826                 2.00%                 0.00               0.00                 1.17            105.06                105.06
          2040                   91,622                 2.00%                 0.00               0.00                 1.09            100.10                100.10
          2041                   93,455                 2.00%                 0.00               0.00                 1.02             95.14                 95.14
          2042                   95,324                 2.00%                 0.00               0.00                 0.00              0.00                  0.00
                                                                 Total Tax Payment             $3,649    Total Tax Payment            $8,221                $4,572

				
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