PONTIAC, Mich. (Michigan News Source) – The city of Pontiac has seen its revenues increase by 24% over the cost of inflation the past five years.
The city reported its financial documents to the state of Michigan’s Department of Treasury last week. In addition, the city of Pontiac’s General Fund revenues have increased from $37.3 million in 2019 to $56.9 million in 2024.
Pontiac’s major revenues have seen major increases over the past four years. The income tax has increased from $14.5 million in 2019 to $20.1 million in 2024. State revenues jumped from $10.6 million to $17.9 million and property taxes increased from $8.4 million to $13.6 million during that five-year span.
In 2023, Oakland County announced a deal with the city of Pontiac where it purchased two office buildings, several parcels of vacant land and the Phoenix Center garage and amphitheater. The deal was part of a plan to revitalize Pontiac’s downtown.
The county was to move 600 employees to the newly purchased office buildings. The projects will cost up to $130 million, of which $50 million will be from the state of Michigan.
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