25LINKBUDGET(FULL) - Flipbook - Page 88
City of Plymouth 2024 / 2025 Budget
04/01/2024
Notice of Public Hearing
City of Plymouth
NOTICE OF PUBLIC HEARING
2024 - 2025 PROPOSED CITY BUDGET
Notice is hereby given that a public hearing will be held on Monday, June 3, 2024, at 7:00 P.M.
in the Commission Chambers of City Hall at 201 South Main Street for the purpose of
discussing and receiving public comments on the proposed 2024 - 2025 City Budget.
Proposed 2023 City Millage Rates
The property tax millage rates proposed to be levied to support the proposed budget will be
a subject of this hearing. The following statements are provided concerning the 2024
proposed millage levies for the City of Plymouth:
The 2024 tax rate for City operating millage is proposed to be 10.3099 mills, which is .0311
mills less than the 2023 operating tax rate. The City Commission has the authority under the
City Charter to set the operating millage rate, within the maximum allowed rate of 10.3099
mills, as adjusted by the Headlee millage roll-back formula.
The 2024 tax rate for debt service millage to fund debt service requirements for the 2020 and
2024 General Obligation and Limited Tax General Obligation refunding bond issues is
proposed to be 1.9500 mills, which is .7800 mills less than the 2023 tax rate.
The 2024 tax rate for City solid waste and recycling millage is proposed to be 1.8200 mills
which is the same as the 2023 tax rate.
The total City millage for all purposes is proposed to be 14.0799 mills for 2024, which is .8111
mills less than the 2023 total City tax rate.
Property Tax Administration Fee
Pursuant to Section 211.44(3) of the General property Tax law a property tax administration
fee of 1% is proposed to be levied on the total of all property taxes levied, both real and
personal, on both the Summer Levy due July 1, 2024 and the Winter Levy due December 1,
2024 as authorized by a 5 - 2 vote of the City Commission at a scheduled budget meeting held
on April 25, 2016.
Equalization Factors
Wayne County established tentative 2024 equalization factors of 1.0741 for the residential
class of property, 1.0513 for the commercial class of property and 1.0172 for the industrial
class of property. Since the City has adjusted assessments for all property classes for 2024 by
the proposed factors, all 2024 equalization factors will be set at 1.0000.
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