Budget for Website - Flipbook - Page 40
year, the General Fund's maximum authorized levy stood at 11.3834 mills. Beginning in 2015, the
City’s maximum General Fund millage was reduced annually, declining from 11.3128 mills in
2015 to 10.3410 mills in 2022. For the 2026 tax year, the millage rate will be reduced again for
the second consecutive year, reaching a new maximum of 10.1240 mills.
The calculations performed by assessors, counties, and the state to establish property valuations,
coupled with the decisions made by local governing bodies to set millage rates, determine the
annual amount of tax revenue generated. However, the regulations governing the Downtown
Development Authority (DDA) and Brownfield Redevelopment Authority (BRA) alter the
distribution of these taxes, diverting a portion of the revenue from some or most taxing
jurisdictions to fund activities authorized under their respective plans.
In the case of the DDA, the growth in taxable value of the district, measured against its value in
1983, serves as the base for all eligible millage rates each year. Following statutes enacted in
1994 subsequent to Proposal
