Michigan school construction activity on the rise in recent years (in dollars and organizations building)

School construction activity has been on a steady upswing in recent years. Strong taxable value growth has resulted in many organizations being able to generate more construction dollars with little impact on millage rates.

The cost of construction has also ballooned in the post-pandemic market, which is reflected in the significant growth in the average and median dollars being issued by public school organizations.

Chart showing the number of public school entities issuing bonds by year and the average and median amount of bonds issued by issuers.

A graph of the long-term growth in the median dollars issued by Michigan public school organizations.