City government · Oakland County, MI

Troy's money: where it comes from and where it goes

In the latest recorded fiscal year (ended June 30, 2024), Troy took in $166 million and spent $154 million.

Latest recorded year: ended June 30, 2024Comes fromGoes to

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Where it comes from

City taxes42%Fees for services (water, sewer)32%State tax money14%Federal tax money5.9%Fines and other5.7%County and local tax money0.6%

What stands out

40%

of Troy's money comes from property tax.A typical U.S. city of 50,000+ people gets 20%.

City taxes42%

Property tax
40%$65.6 million
Other taxes
2.4%$4.0 million
What's in other taxesOther licenses and occupation and business licenses
  • Other licenses$3.9 million
  • Occupation and business licenses$63 thousand

Amounts are by Census tax category.

Fees for services32%

Fees for services
32%$52.3 million
What's in fees for servicesWater; sewer and 2 more
  • Water$21.7 million
  • Sewer$14.2 million
  • Other service charges$8.5 million
  • Parks and recreation$7.9 million

Amounts are by Census type of charge.

Federal tax money5.9%

Grants from Washington, paid for by the federal taxes residents also pay.

From the federal government
5.9%$9.8 million

State tax money14%

Money the state passes on, paid for by the state taxes residents also pay.

From the state
14%$23.6 million

County and local tax money0.6%

Money passed on by the county or other local governments.

From the county and other local governments
0.6%$961 thousand

Fines and other5.7%

Interest, rents and other
5.1%$8.4 million
Fines
0.6%$972 thousand

Where it goes

Water, sewer, trash and utilities30%Police, fire, courts and jails27%Parks, recreation and libraries20%Roads, transit and parking15%Running the government and other costs8.4%All other spending0.2%

What stands out

20%

of Troy's spending goes to parks, recreation and libraries.A typical U.S. city of 50,000+ people spends 6.4%.

Spending by category100%

Water, sewer, trash and utilities
30%$45.7 million
What's in water, sewer, trash and utilitiesWater supply; sewer systems and 1 more
  • Water supply$24.0 million
  • Sewer systems$15.5 million
  • Garbage and solid waste$6.2 million
Police, fire, courts and jails
27%$41.0 million
What's in police, fire, courts and jailsPolice; fire protection and 2 more
  • Police$29.8 million
  • Fire protection$7.2 million
  • Inspections and regulation$2.3 million
  • Courts and legal services$1.7 million
Parks, recreation and libraries
20%$30.8 million
What's in parks, recreation and librariesParks and recreation and libraries
  • Parks and recreation$23.6 million
  • Libraries$7.2 million
Roads, transit and parking
15%$23.0 million
What's in roads, transit and parkingRoads and highways and public transit
  • Roads and highways$22.3 million
  • Public transit$620 thousand
Running the government and other costs
8.4%$12.8 million
What's in running the government and other costsOther and not broken out; central staff services (personnel, purchasing, technology) and 2 more
  • Other and not broken out$4.2 million
  • Central staff services (personnel, purchasing, technology)$3.8 million
  • Finance, tax collection and budgeting$3.6 million
  • Government buildings$1.3 million
Interest on debt
0.2%$285 thousand
Health and hospitals
<0.1%$12 thousand
What's in health and hospitalsPublic health
  • Public health$12 thousand
Sources and moreWhere these numbers come from and what they cover

City of Troy. U.S. Census Bureau, 2024 Annual Survey of State and Local Government Finances, individual unit file, fiscal year ended June 30, 2024.

What this covers. The money of City of Troy itself. Other governments that serve the same area (the city, county, school district and state) are separate and not included. Borrowing, transfers between a government's own funds, and pension trust funds are not counted as revenue.