Page 71 - CityofSaginawFY25Budget

CITY OF SAGINAW
GENERAL FUND OVERVIEW OF REVENUES
2024-2025

The City of Saginaw's General Fund accounts for resources that are traditionally associated with
governmental activity and which are not required to be accounted for in another fund. These resources
are used for expenditures of the General Administrative Office, Municipal Court, Fire, Police, Public
Services, Parks, Community Services, Library, Inspections/Code Enforcement, Animal Services, Fleet
Maintenance, Information Technology, Economic Development, Emergency Managment, and
Communications of the General Fund.
Below is an overview of the General Fund Revenues. The City's revenues are reviewed individually and
are based on trend analysis.
CURRENT PROPERTY TAXES:
Taxable values have increased as a result of the current economic conditions and growth throughout the
City. The July certified taxable value from TAD is $2,968,980,820. This is $344,163,679 more than last
year's estimated net taxable value of $2,968,980,820. The taxable value of new construction is
$30,041,510.

In Millions TAXABLE VALU
In Millions
$1,843E
TAXABLE VALUE
$3,500 $2,969 $3,113
$2,000
$3,000 $1,441 $1,570 $2,625
$2,500 $1,219 $1,276 $1,316 $2,046 $2,026 $2,388
$1,500
$2,000 $1,316 $1,441 $1,570 $1,843
$1,000
$1,500
$1,000
$500
$500
$0
$0
16-17
18-19
15-16 14-15 17-18 16-17 19-20 20-21 21-22 22-23 21-22 24-25
23-24
18-19
17-18
19-20
20-21
15-16
22-23
13-14
The 2023 tax rate was .498769. The 2023 "no new revenue" is 0.459254. The "no new revenue" tax
rate is the rate required to generate the same tax dollars as last year on the same properties. The "voter
approval" rate is .498769; the highest rate that the City Council may approve without a tax rate election.
A tax rate of .493747 has been used for the 2024-2025 budget. The estimated General Fund tax
revenue is $8,510,845.
TAX DEBT M&O SALES TAX TOTAL
YEAR RATE RATE ADJUSTMENT RATE
2023 0.234810 0.263959 (.084281) 0.498769
2024 0.218417 0.275330 (.087788) 0.493747
DIFFERENCE OVER/(UNDER) LAST YEAR 0.005022
Taxable Value $ 3,112,559,833
less TIRZ Value $ (21,417,284)
Net Taxable Value $ 3,091,142,549
Total Rate 0.493747
Total Revenue $ 15,368,171
Debt Rate 0.218417
Debt Revenue $ 6,751,581
M&O Rate 0.275330
M&O Revenue $ 8,510,843
TIRZ Revenue $ 105,747

With a tax rate of .493747, the maintenance and operation rate for the General Fund will be 56% of the
total tax rate and the portion for the Interest and Sinking Fund will be 44% of the total tax rate.

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