Michigan law requires that public schools adopt their annual budgets before the beginning of the fiscal year (July 1). A taxing entity, including a school district or ISD, must follow a “truth-in-taxation” process if its anticipated tax revenue will exceed what it collected in the previous fiscal year (with exceptions for certain taxable additions). This process includes publishing a newspaper notice, holding a truth-in-taxation public hearing, and adopting resolutions proposing and...
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