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Detroit treasury projects $2.66 billion in 2027 revenue, flags corporate tax hit from federal law
Summary
Treasury officials told the Budget, Finance and Audit committee the city’s preliminary revenue estimate for 2027 is roughly $2.66 billion, with $1.4 billion from the general fund; staff warned a recent federal tax law change will reduce local corporate income tax receipts by an estimated $16 million in FY26–27 and recommended a $42 million corporate income tax reserve.
Treasury and budget staff told Detroit’s Budget, Finance and Audit Standing Committee on Oct. 8 that the city’s preliminary revenue estimate for fiscal 2027 is roughly $2.66 billion and outlined risks that could shrink those projections.
“We’re estimating roughly $2,660,000,000 overall for funds in 2027,” said Sean Tobin, deputy director of strategic finance and analytics in the treasury department. He said the total includes about $1.4 billion in general‑fund revenues and roughly $739 million from water and sewer operations, with about $500.5 million in other recurring sources such as library, street funds and UTGO debt service.
The presentation, drawn from the Sept. 22 Revenue Estimating Conference, also highlighted two downside drivers: changes from a recently enacted federal law the presenters…
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