OH, NO...City Council wants to raise your taxes 26%! Did you KNOW that? Were you even WATCHING?
Who said City Council is proposing a 26% tax increase? Oh, I SEE...it's the TCU up to their old tricks again. Let's review, shall we?
You pay approx. .26 cents of every dollar of property tax TO THE CITY. The rest goes to other entities (the schools, the county parks, refuse, etc.).
There is a proposal to raise .7 mills for our library for which ballot language might be approved tonight. There is a second resolution to raise 1 mill for roads that HASN'T EVEN BEEN APPROVED to have language approved -- it's really not even ready to be given to the voters.
But...even if both measures come to ballot and voters approve the combined 1.7 mills, it could mean an increase of taxes paid to the city. Our property values are dropping faster than that would raise the increase in most cases.
However, I believe in full disclosure. Let's take a look at this using real data from real people -- my tax bill.
Our city operating fund millage COULD go from 6.5 mills to 8.2.
For my home, it would raise my city portion of taxes from $734 to $926. It's a total increase of about $16/month.
But guess what? Five years ago, I was paying well over $1300 toward that same fund. Even if both of these measures pass, I'M STILL SEEING A NEARLY $400 SAVINGS IN PROPERTY TAXES!
So, is TCU right? Is the city proposing a 26% TAX INCREASE!!??? No. They are proposing a millage increase from 6.5 to 8.2, and if my calculations are correct, that's actually only a 21% increase of a small portion of your total tax bill.
And remember: it's because of the TCU that we even have to vote on this. CITY COUNCIL isn't raising your taxes -- WE might choose to do so. WE told city council that we WANTED better roads and snow removal...a library.
WE WANT THIS MILLAGE INCREASE.
Truth in advertising: it takes work to find it. But it's there. Don't buy into the propaganda. Do your homework and share what you find out with your friends, neighbors, colleagues and customers in Troy.
Support these millages...Save Troy.