Tax rates proposal may go to ballot
Residents in Troy may get to decide during the November election whether the city would need to get voter approval for future tax increases. Advertisement
The Troy City Council is considering a citizen-initiated petition, signed by more than 2,700 residents, that proposes freezing the city’s tax rate for operating and capital costs at 8.1 mills, costing a resident with a home that has a $124,885 taxable value — the average in Troy — $1,012 a year.
The council discussed the issue Monday but postponed making a decision until the Aug. 11 meeting.