Bloomfield Township Supervisor Leo Savoie presented a preliminary budget overview for the fiscal year 2019-2020 at the board of trustees meeting on Monday, November 12, where he pointed out that a 3.5 percent increase in taxable values would equate to a 2.5 percent increase in the millage rate for the next year, after Headlee rollbacks.
The 2018 millage rate was 19.391, inclusive of all school, county and special millages.
The current year's adopted budget, which ends March 31, 2019, is $45.4 million. The preliminary 2020 budget would rise to $45.9 million, with public safety fund expenditures at $32 million, general fund expenditures at $11.2 million, and road fund expenditures proposed at $5 million.
“Public safety increased $3.5 million – a little more than what we initially anticipated in 2010 when we did a special millage,” Savoie said. He said they currently do not see any deficits in the general fund.
Anticipated property tax revenue is expected for the 2020 fiscal year at $34.2 million, up from $33.4 million in the current adopted budget.
State revenue sharing, currently at $3.57 million, is anticipated to rise to $3.665 million.
“This is just an initial review of the budget,” Savoie said. “We will have more changes before there are approvals in March.”