West Bloomfield Residents to Pay Less Taxes

The 's financial challenges became less severe after the sale of bonds in the amount of $18.22 million, which will save property owners in the township $2.6 million in taxes.

An announcement Monday explained that PNC Bank had purchased the bonds at an interest rate of 2.18 percent over the next eight years for a cost of $18.22 million. That's lower than the previous interest rate on the bonds, which was 5.25 percent, Deputy Superintendent Thomas Goulding said Thursday.

The impact on millage rates is about 1.61 mills. On a $200,000 taxable value home, the property tax savings would be $322 annually and on $100,000 in taxable value, the savings are $161.

"I think (PNC Bank) saw this as a safe investment and submitted a bid based on that notion," Goulding said. "Over time, its going to save on interest and hopefully lower the millage we'll eventually need to levy."

Also Monday, the district announced it had for the installation of 221 Wireless Pneumatic Thermostats (WPT) in classrooms to improve energy efficiency.

Also Jan. 30, the school board passed a plan 7-0 to have Western Demographics Inc. conduct a study for $70,000 on facility utilization and enrollment trends within the district.

Goulding added that the news was very well-received, but the district still faces challenges as the 2012-13 budget is prepared to be adopted in June.

The Oct. 5 student head count is 6,603.2, including full-time equated students (FTE), while the blended count was 6,617.72 FTE. The February 2011 count was 6,744.42 FTE.

"We know that our demographers are projecting further losses next year in enrollment of 100-200 kids,” Goulding said.