Budget

search our website:

Budget

Finances
The Chesterfield Township Library was legally established in 1994 as a free public library established in a township under Section 10 of PA 164, and has an elected six-member governing board of trustees that serve 4-year terms. While the Library operates and is governed under separate authority from the township, the Library is a local unit of government.

Budget
2022 Budget

Annual Report
2021 Annual Report

Financial Audits
2021 Annual Audit
2020 Annual Audit
2019 Annual Audit
2018 Annual Audit
2017 Annual Audit

Pension Report
2021 Public Act 202 of 2017 Pension Report Form 5572
2021 Public Act 202 of 2017 OPEB Report Form 5572

State Aid to Public Libraries Act 89 of 1977

What is the Library's current tax rate?

  • The Library levies a single, operating millage at the rate of 0.7 mills.
  • That millage rate is reduced by the Headlee Amendment.
  • Actual 2021 Tax Rate for 2022 Revenue: 0.6112
  • The July 01, 2021 U.S. Census Estimate lists the median housing value in Chesterfield Township as $212,500. Based on taxable value (estimated at 50%), that homeowner currently pays about $64.94/year or $5.41/month or $0.18 cents/day for public library services.
  • $212,500/2 = $106,250 x 0.6112 = $64,940/1000 = $64.94/year/365 = $0.18 cents/day

Click here to find your home's taxable value at BS&A Online.

Population of Chesterfield Township

 2020  2010 2000 1990 1980 1970 1960
 45,376   43,381   37,405   25,905   18,276   9,378   5,888 


What do the terms "Assessed Value," "State Equalized Value" and "Taxable Value" mean?
According to Michigan property tax law, these terms have the following meanings:

● Assessed value—The assessed value is determined by a property’s market value. Set by the assessor, the assessed value when multiplied by two will give an approximate market value of the property. The assessor is constitutionally required to set the assessed value at 50% of the usual selling price or true cash value of the property.

● State Equalized Value (SEV)—SEV is the assessed value that has been adjusted following county and state equalization. The County Board of Commissioners and the Michigan State Tax Commission must review local assessments and adjust (equalize) them if they are above or below the constitutional 50% level of assessment.

● Taxable value—A property’s taxable value is the value used for determining the property owner’s tax liability. Multiplying the taxable value by the local millage rate will determine your tax liability. Taxable value increases from year to year by the rate of inflation or 5%, whichever is lower. Transfers of ownership and improvements to the property will increase the taxable value more than the rate of inflation but never more than the assessed value.