The City of Cadillac is committed to fiscal openness, responsibility, and accountability. This is primarily achieved through the various financial planning and reporting processes that take place each year through the annual operating budget, the 6-year capital improvement program, and the annual independent audit.
To be a key leader in governmental accountability for our community and throughout Northern Michigan, the City of Cadillac has developed this page which makes several layers of information available to the public to help facilitate and demonstrate the City's commitment to fiscal accountability. This information includes accounts payable check registers, quarterly financial reports, and any other information that is deemed important to demonstrate fiscal compliance and openness.
Understanding Cadillac's Finances
The City of Cadillac is now making available information that will help residents, taxpayers and anyone else that is interested in the City's finances understand the structure of the organization and where and how the City spends tax dollars and other resources that flow into and through the City treasury. This information is published in compliance with the State of Michigan's City, Village, and Township Revenue Sharing (CVTRS) program.
City, Village, and Township Revenue Sharing Program (CVTRS) The State of Michigan requires local governmental agencies to produce several reports in order to fully qualify for revenue sharing payments. These include a Citizen's Guide to City finances, a Performance Dashboard, a Debt Service Report, and a Projected Budget Report. Cadillac has consolidated these reports into one document titled 'Accountability and Transparency Report which is available by following the link below.
Accountability and Transparency
(Updated as of December 1, 2020 Deadline)
Citizen's Guide (You will be redirected to a Michigan Treasury site)
Performance Dashboard, Projected Budget, and Debt Service Requirements (PDF)
CVTRS Program Certification (Form 4886) (PDF)
Protecting Local Government Retirement and Benefits Act (PA 202 of 2017) & Public Act 530 of 2016 Pension Report (PDF)
A principal source of revenue for the City of Cadillac is the levy of taxes on real and personal property located within the Cadillac city limits. The levy and collection of property taxes is governed by Michigan Public Act 206 of 1893 (General Property Tax Act) as amended.
It is important to note that property taxes for several taxing authorities other than the City of Cadillac are included with each property tax bill. In fact, for every dollar of property taxes paid on a City tax bill, only $0.27 stays with the City. The remaining $0.73 is distributed to the appropriate taxing unit. This distribution is highlighted in the chart to the right.
City Millage Rates:
Operating - 13.7774 mills
Police & Fire Retirement - 2.6000 mills (Approved November, 1977)