City Council approved a $28 million budget and a tax rate of $.635 per $100 valuation for fiscal 2021-2022 at its regular meeting Sept. 16 – rescheduled from Sept. 14 because of Hurricane Nicholas.
Council also approved a five-year capital improvement program, the $1,919,159 fiscal 2022 budget for Bay City Community Development Corporation (BCCDC) and an extension of the city’s juvenile curfew ordinance.
Public hearings for the budget and tax rate drew no public comments.
The new tax levy will raise more taxes for maintenance and operations than last year’s tax rate and will raise about $265,000 in additional tax revenue city documents show. That’s based on valuations increasing by $72 million.
The tax rate will effectively be raised by 5.45%.
That increased property tax revenue will be earmarked to increase the street construction fund.
The new budget includes a 3% raise for city employees, who also will see a 15% rise in health insurance.
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