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Posted on: September 26, 2022

City Council Adopts FY23 Budget

Adopted Budget FY2022-2023

The Saginaw City Council Adopted the Fiscal Year 2022-2023 Budget at the September 6th meeting. 

To view the adopted budget, click here.

Below are some highlights from the adopted budget:

  • This adopted budget is based on a tax rate of 0.508042 which is 3.4203 cents higher than last year’s rate of .479516.
  • The increase of the tax rate is due to the sale of $23.7 million in voter approved bonds for the construction of a new Library and Senior Citizens Center. 
  • The average taxable single family home value in 2021 was $202,642.  The average taxable single family home value in 2022 is estimated to be $217,978, an increase of 7.6%. The average homeowner’s city taxes will increase annually $135.72 from $971.70 to $1,107.42 or $11.31 per month.  For $92.29 per month, the average citizen of Saginaw receives police protection, fire protection, public services, parks, recreation, library services, animal services, and code enforcement and inspection. 
  • Seniors will see a savings due to an increase in the over 65 homestead exemption.  The exempted value went from $50,000 to $100,000.  The average senior will pay $599.38 in city property taxes, a savings of $508.04. 
  • A replacement fire engine ($950,000) will be funded with estimated savings in the Central Fire Station construction project ($800,000) and ARPA funds ($150,000). 
  • The average customer using 8,000 gallons of water per month will see a monthly increase of $5.60 as a result of the water and sewer rate increases.
  • Rental inspection fees are increasing due to a fee increase from $75 to $125 per year.  These increased fees help to offset the three positions primarily responsible for the program that inspects all rental units within the city to ensure safe and sanitary living conditions. 
  • Other permits and fees are increasing as well. Garage sale permits will increase from $5 to $10 and business alarm permit fees from $15 to $50.  Both increases are proposed to partially offset the cost of these programs.
  • A home renovation program is added to provide incentives for home owners to make improvements to their property.  Total funding is $25,000: General Fund ($12,500) and Enterprise Fund ($12,500).

To view the adopted budget, click here.

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