26BUDGET(FULL-LINKED) - Flipbook - Page 261
CITY OF PLYMOUTH
City of Plymouth
County of Wayne, State of Michigan
2020 Unlimited Tax General Obligation Bonds, dated 4/1/20, orig. amt. $6,140,000, CUSIP # 729671, QK6 to QU4
2024 Unlimited Tax General Obligation Bonds, dated 4/3/24, orig. amt. $5,030,000, CUSIP # QV2 to RE9
CUSIP #s: 729671 See above for Issuer & Issue numbers
ANNUAL DISCLOSURE DOCUMENT
(Due by December 31 annually; FYE June 30)
PROPERTY VALUATIONS:
State
Percent
Year
Equalized Value
Change
2024
$1,009,758,000
6.62%
2023
947,037,100
6.88%
2022
886,048,000
3.44%
2021
856,621,300
4.22%
2020
821,936,470
6.54%
Source: Wayne County Equalization Department and City of Plymouth
Total
Taxable Value
$778,201,340
731,278,070
678,970,091
636,043,215
610,186,131
Percent
Change
6.42%
7.70%
6.75%
4.24%
5.04%
Full IFT
Taxable Value
$0
0
0
0
1,119,600
2024
Taxable Value
$754,866,840
23,334,500
$778,201,340
Percent
of Total
97.00%
3.00%
100.00%
2024
State Equalized Value
$986,423,500
23,334,500
$1,009,758,000
Percent
of Total
97.69%
2.31%
100.00%
$129,294,691
23,585,241
601,986,908
7,514,000
15,820,500
$778,201,340
16.61%
3.03%
77.36%
0.97%
2.03%
100.00%
$163,626,400
25,202,500
797,594,600
7,514,000
15,820,500
$1,009,758,000
16.20%
2.50%
78.99%
0.74%
1.57%
100.00%
TAX BASE COMPOSITION:
By Class:
Real Property
Personal Property
TOTAL
By Use:
Commercial
Industrial
Residential
Personal Commercial
Personal/Utility
TOTAL
Source: City of Plymouth
MAJOR TAXPAYERS:
Taxpayer
DTE Electric Company
Starkweather Development
Consumers Energy
Fuyao Asset Management LLC.
Downtown Plymouth Ventures LLC
Paradigm Tax Group d/b/a Packaging Corporation of America
Mucci Properties
Trinity Health Medical Center
WRE Plymouth Park LLC
Dick Scott Real Estate LLC
TOTAL
2024 Taxable Value
Top 10 Taxpayers as a % of Total Taxable Value
Source: City of Plymouth
Product/Service
Electric Utility
Condo Rental
Gas Utility
Glass Manufacturing
Office/Condo/Rental/Residental
Packaging Company
Independent Living
Health Care
Senior Assisted/Independent Living
Auto Dealership
2024
Taxable Value
$9,818,600
6,182,856
5,924,800
4,256,600
3,828,249
2,591,639
2,563,436
2,466,997
2,377,200
2,066,517
$42,076,894
$778,201,340
5.41%
TAX RATES:
City of Plymouth
Allocated Operating
Debt/Street
Refuse
City's Total
Source: City of Plymouth
2024
10.3099
1.9500
1.8200
14.0799
2023
10.3410
2.7300
1.8200
14.8910
2024
Millage
Authorized
15.0000
3.0000
N/A
Millage Rate As
Permanently Reduced
By Headlee
10.3099
2.0599
N/A
2022
10.3410
2.9500
1.8200
15.1110
2021
10.4592
2.7900
1.8200
15.0692
TAX RATE LIMITATION:
Purpose
General Operating
Refuse Collection & Disposal
Street Debt
Source: City of Plymouth
City of Plymouth Annual Disclosure
Page 2 of 6
Current Year
Millage
Reduction Fraction
1.0000
1.0000
N/A
2024
Maximum
Allowable
Millage
10.3099
2.0599
N/A
2020
10.5788
3.1100
1.8200
15.5088
