25LINKBUDGET(FULL) - Flipbook - Page 28
City of Plymouth 2024 / 2025 Budget
The above example illustrates one average household. The corresponding tax totals for the
entire City are somewhat more complicated but are shown below as follows:
Total Taxes Levied
$40,486,050
They are paid out to various taxing agencies as follows:
City General Fund
City Streets for Construction Debt
City Waste & Recycling Fund
City Downtown Dev. Auth. (DDA)
City Brownfield Redev. Auth. (BRA)
City Total
$7,260,024
$1,394,665
$1,264,077
$1,265,053
$604,120
$11,687,939
Local Schools
State School Tax
Intermediate Schools
Community College
Wayne County
Detroit Zoo/DIA
Plymouth Library
Total – All Property Tax
$3,190,003
$4,374,704
$3,769,658
$1,576,624
$5,542,353
$206,835
$1,021,324
$28,798,111
$40,486,050
Out of the annual $40 million collected by the City, only $9,919,742, or 24.5%, is retained by
the City, with an additional $1,869,173, or 6.9%, being retained by the City’s two tax
increment financing authorities. The remaining $28,798,111 is distributed to other taxing
units, typically within two weeks of receipt.
In addition to handling $40.5 million in taxes, the City also collects $20.4 million primarily
from state and federal sources, as well as charges for services, with the largest being the
City’s water, sewer, and solid waste billing system. Property Taxes, totaling $11,687,939 as
shown above, constitute the largest single source of revenue for the City. The next largest
sources of City revenue, in descending order, include Water and Sewer Rate Charges $5,453,525; Recreation Fees and Charges - $869,000; State Shared Revenues - $1,170,941; Gas
and Weight Tax Returns – $1,124,881; and Solid Waste Rate Charges - $459,400. In total, the
City collects over $20 million from sources other than taxes to deliver its myriad services to
citizens, operating a multi-faceted business with an annual cash flow of nearly $51 million.
However, it is worth noting that the City is governed by a complex array of state and federal
accounting laws, making for intricate accounting requirements in both budgeting and
financial reporting. The purpose of this executive summary is to present the City’s 200-page
budget in a simplified, understandable format accessible to all readers, including those
without extensive accounting knowledge. This has been achieved through a concise onepage summary of revenues and expenditures on page 25. The proposed City Budget for the
fiscal year beginning on July 1, 2024, is $31,955,838, marking a 4% increase from the 2023/24
budget.
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