wording of the resolution

The following question will appear on May's ballot:

Do you favor increasing the school district's portion of the current Earned Income Tax by imposing an additional 0.7%, effective July 1, 2007? The revenue generated from the increased tax rate will be used to reduce school district taxes on qualified residential property by an estimated $522 in the first year and increasing to approximately $745 in succeeding years. The current school district Earned Income Tax rate is 0.5%

When voting on this issue in May, it is important for taxpayers to realize the following:

• In the first year, a household with a toal income of $75,000 will pay more in total taxes with the increased EIT than they did previsously. The district estimates that there are more than 4,200 households that fall into this category.
• The district's 2,800 renters will pay the increased EIT, but receive no tax relief in return
• Citizens on a fixed income making less than $75,000 should benefit from Act 1 the most in the first year of implementation. The district estimated there are more than 5,000 citizens who are 65 years of age or older.