Road Millage

Road Millage

As a continuation of our original posting, I would like to provide you with what we would be estimating for a millage needed for repayment of money borrowed to pave the roads. These estimates were provided to us by Bakertilly Municipal Advisors.

Option 1

1. Hollenbeck Road, North Lake Road to Marathon Road, turned to pavement from
2. gravel in 1987, resurfaced in 2007. (11 years overdue)
3. Marathon Road, Howell to Otter Lake Road, turned to pavement from gravel in 1984, resurfaced in 2007. (10 years overdue)
4. Peters Road, LeValley Road to Klam Road, Paved in 2000. (15 years overdue)
    

Borrowing Amount	Repayment Term	Estimated Mileage
$1 Million	10 Years	0.85
$1 Million	15 Years	0.65

 

Option 2

1. Hollenbeck Road, North Lake Road to Marathon Road, turned to pavement from gravel in 1987, resurfaced in 2007.. (11 years overdue)
2. Marathon Road, Howell to Otter Lake Road, turned to pavement from gravel in 1984, resurfaced in 2007. (10 years overdue)
3. Peters Road, LeValley Road to Klam Road, Paved in 2000. (15 years overdue)
4. Marathon Road, Hollenbeck to Barnes Lake Road, turned to pavement from gravel in 1998, resurfaced in 2013. (3 years overdue)
5. Hollenbeck Road, Washburn to North Lake Road, turned to pavement from gravel in 1980, resurfaced in 2013. (2 years overdue)
6. Hemingway Lake Road, Hart Lake to North Lake Road, crush and shaped in 2013. (5 remaining years)
    

Borrowing Amount	Repayment Term	Estimated Mileage
$1.9 Million	10 Years	1.65
$1.9 Million	15 Years	1.25

 

Option 3

1. Hollenbeck Road, North Lake Road to Marathon Road, turned to pavement from gravel in 1987, resurfaced in 2007. (11 years overdue)
2. Marathon Road, Howell to Otter Lake Road, turned to pavement from gravel in 1984, resurfaced in 2007. (10 years overdue)
3. Peters Road, LeValley Road to Klam Road, Paved in 2000. (15 years overdue)
4. Marathon Road, West Barnes Lake Road to Howell Road (Currently gravel between pavement at each end)
    

Borrowing Amount	Repayment Term	Estimated Mileage
$1.9 Million	10 Years	1.65
$1.9 Million	15 Years	1.25

To estimate how you will be impacted by this millage you can use the following formula;

(Millage Rate X Your Taxable Property Value) divided by 1,000 = cost per year

Example:
Millage Rate of	1.25	for every $1000 of Taxable Value (TV) of your Parcel	add $1.25
Millage Rate of	1.65	for every $1000 of Taxable Value (TV) of your Parcel	add $1.65
Millage Rate of	1.25	(TV) $10,000. equals $12.50 Per Year
Millage Rate of	1.65	(TV) $10,000. equals $16.50 Per Year

We are very interested in getting your thoughts. If you would please take a minute and answer the questions on the survey on below it would help us greatly.
 

 

If you have any additional questions, comments or concerns please feel free to contact me at 810-793-2002 or at supervisor@marathontwp.com.

Thank you
Dennis Hogan