Dexter residents could see a property tax increase if the city does not receive state reimbursement funding tied to its public safety debt.
The potential increase is connected to repayment of Dexter’s Public Safety General Obligations bond.
Justin Breyer is Dexter’s City Manager. He says the city has received reimbursement funds from the state’s Local Community Stabilization Authority in recent years to offset revenue losses tied to Michigan’s 2014 property tax reforms. He says if those funds do not arrive this month, then a tax increase becomes a real possibility.
“If it is the worst-case scenario, it would be about .3 of a mill on a property valued at a $100,000. 1 mill would be about $50.”
Breyer says that would raise the public safety repayment millage to 1.51 mills.
Residents can attend a public hearing on the increase on June 8th.
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