The city shall have the power to assess taxes and levy and collect rents, tolls and excises. Exclusive of any levies authorized by statute to be made beyond charter tax rate limitations, the annual ad valorem tax levy shall not exceed two per cent of the assessed value of all real and personal property subject to taxation in the city.
State constitutional law reference:
Limitation on taxation, Mich. Const. of 1963, Art. VII, § 21
Statutory reference:
Limitation on taxation, see M.C.L.A. § 117.5(a)