§ 8.01. Power, Limitation and Subjects of Taxation.

The Council shall have full power and authority to levy and collect from year to year such amount of taxes upon all real and personal property, not exempt from taxation, within the limits of the City of Ionia as it may deem necessary to defray the expenses thereof, not to exceed one and one-half per cent on each dollar of the equalized valuation in any one year for all purposes, exclusive of costs of collection and exclusive of a library tax and public transportation tax. The Council may, in addition, levy and collect a library tax of not exceeding one mill and a transportation tax of not exceeding 3/4 of one mill on each dollar of the equalized valuation in any one year. The subjects of taxation for municipal purposes shall be the same as for state, county and school purposes under the general law.

The levy, collection and return of State, County, school and City taxes shall be in accordance with the general law. City taxes shall be due and payable on July 1 in each year. No exemption from taxation shall be allowed except as expressly required or permitted by law.