ü    Bay City’s 2008 State Equalized Value is $798,699,275, which indicates a True Cash Value of $1,597,398,550 – the highest in Bay County.  Comparatively, the City’s 2008 Taxable Value is $698,013,281, or 86.52% of the SEV.  This indicates that the citizens of Bay City are, on average, paying at least 13.48% less in taxes than they did prior to Proposal “A” of 1994.  This has occurred because Taxable Values have been capped at inflation, or 5%.  Prior to 1994, we paid our taxes based on the State Equalized Value of property.

ü    Bay City’s 2008 property tax base consists of:

ü    66.56%        Residential

ü    20.10%        Commercial

ü    12.60%        Industrial

ü      0.74%        Utility

ü    The City Assessor determines property value.

ü    Various taxing jurisdictions determine the rate at which you are taxed.  As of 2008 in Bay City, this includes:

ü    State Education Tax (9.42%)

ü    School Operating Tax (28.27% - Bay City, 28.53% - Bangor)

ü    School Debt (3.69% - Bay City, 3.44% - Bangor)

ü    Delta College (3.21%)

ü    Bay-Arenac Intermediate School District (7.73%)

ü    Bay County Government (15.81%)

ü    Bay County Metro Transit Authority (1.17%)

ü    Bay City Government (30.7%)

(Percentages based on NON-Homestead rates within Bay City Public School District)

ü    The City Treasurer collects taxes.