§ 13.5. Adoption of budget and tax limit.

Latest version.

Not later than the second Wednesday in May, the Council shall, by resolution, adopt the budget for the next fiscal year and shall, in such resolution, make an appropriation of the money needed for municipal purposes during the next fiscal year of the City and provide for a levy of the amount necessary to be raised by taxes upon real and personal property for municipal purposes, which levy shall not exceed one (1) percent of the assessed valuation, as equalized by the state tax commission, of all real and personal property subject to taxation in the City.

State law reference

Mandatory that charter provide for annual appropriation of money for municipal purposes, MCL 117.3(h), MSA 5.2073, (h); general appropriation ordinance, MCL 141.436, MSA 5.3228(36); mandatory that charter provide for annual levy and collection of tax, MCL 117.3(g), MSA 5.2073, (g); limitations on tax rate, Mich. Const. 1963 art. VII, § 21; MCL 117.3(g), 117.5(a), 211.107a, MSA 5.2073, (g), 5.2084, (a), 7.161(1).

                    
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