When people talk about school taxes, they often mention something called a mill levy. Understanding how mill levies work can help explain how school bonds impact local taxes. A mill levy is a tax rate used to calculate property taxes. One mill equals $1 in taxes for every $1,000 of a property’s assessed value. How Property Taxes Are Calculated Property taxes are based on two main factors: 1. The mill levy (set by local governments, including school districts) 2. The assessed value of a home (determined by the county) The formula looks like this: Assessed Value × Mill Levy = Property Tax Amount For example, if a home’s assessed value increases, the tax bill may increase, even if the mill levy stays the same. What the School District Controls Lansing USD 469 can only control the mill levy, not individual home values. • The district does not set home values • Home values are determined by the county based on market conditions • If property values rise across the community, taxes may rise regardless of school funding decisions How This Relates to the Bond Election For the proposed bond: • Question 1 is structured to maintain the current school mill levy • If only Question 1 passes, there would be no mill levy increase • If both questions pass, a mill levy increase of approximately 0.746 would be required Even when mill levies remain steady, individual tax bills can still change due to fluctuations in property values. Understanding how mill levies work helps clarify what school districts can and cannot control when it comes to taxes.

Lansing USD469 Bond Information Series: Understanding Mill Levies: How School Taxes Work

Lansing USD469

January 28, 2026

When people talk about school taxes, they often mention something called a mill levy. Understanding how mill levies work can help explain how school bonds impact local taxes.

 

A mill levy is a tax rate used to calculate property taxes. One mill equals $1 in taxes for every $1,000 of a property’s assessed value.

 

How Property Taxes Are Calculated

Property taxes are based on two main factors:

 

  1. The mill levy (set by local governments, including school districts)

  2. The assessed value of a home (determined by the county)

 

The formula looks like this:

 

Assessed Value × Mill Levy = Property Tax Amount

 

For example, if a home’s assessed value increases, the tax bill may increase, even if the mill levy stays the same.

 

What the School District Controls

Lansing USD 469 can only control the mill levy, not individual home values.

 

  • The district does not set home values

  • Home values are determined by the county based on market conditions

  • If property values rise across the community, taxes may rise regardless of school funding decisions

 

How This Relates to the Bond Election

For the proposed bond:

 

  • Question 1 is structured to maintain the current school mill levy

  • If only Question 1 passes, there would be no mill levy increase

  • If both questions pass, a mill levy increase of approximately 0.746 would be required

 

Even when mill levies remain steady, individual tax bills can still change due to fluctuations in property values.

 

Understanding how mill levies work helps clarify what school districts can and cannot control when it comes to taxes.

Where Do the Tax Estimates Come From?

All tax impact examples shared by Lansing USD 469 are based on independent financial analysis prepared by Raymond James Public Finance, the district’s financial advisor.

The Raymond James analysis includes:

  • Current mill levy history

  • Projected bond repayment schedules

  • State aid assumptions

  • Assessed valuation growth projections

  • Estimated tax impacts for homeowners at various property values

These calculations are not created by the school district and are provided to help community members understand potential financial impacts under different scenarios.

Community members are encouraged to review the full financial analysis document on the district website for additional detail.

View the Raymond James Financial Analysis

March 3 Election Information

This information is intended to help residents make an informed decision. We encourage everyone to review the materials, ask questions, and participate in the election.