A REPRIEVE: A $20,000 donation by the president of the Irish Hills Historical Society may help these historic viewing towers stave off the wrecking ball. (courtesy photo/Mlive) *Homeowners know what July means … property tax bills. While it might not feel like it, Michigan is not at the top when it comes to taxing property. […]
property taxes
Posted inGuest Commentary
Guest commentary: Owosso’s budget woes are warning to state policy-makers
By Tom Cook Tom Cook is a member of the Owosso City Council and executive director of the Cook Family Foundation. The city of Owosso has a budget problem — and has had one for the last five years. Good management, tough policy decisions and sacrifices by residents and employees of the Shiawassee County community […]
Posted inMichigan Politics Watch
New rankings find fiscal troubles for city halls across Michigan
TROUBLE AHEAD: An analysis by Munetrix found that dozens of Michigan communities were in troubling financial shape in 2011, with 2012 data still to be filed. (courtesy photo/used under Creative Commons license) While the financial problems of Detroit have captured the headlines this spring, a new analysis released today on government finance finds that […]
Posted inMichigan Politics Watch
Voters sign off on 90 percent of millage requests
Voters across Michigan are familiar with the routine ends of property tax millage requests – road repairs, libraries, schools. But millages manage mosquitoes, too. Sims Township, in Arenac County across Saginaw Bay from the Thumb, was one of hundreds of municipalities that requested a millage renewal for public services in last week’s primary. In Sims’ […]
Posted inBusiness Watch
'Shadow Tax Cut' deepens local budget crises
A $900 million cut in property tax revenues since 2007, the “Shadow Tax Cut,” has devastated the budgets of local governments that heavily rely on these taxes to provide police and fire protection — and a host of other services. They’ve laid off hundreds of firefighters, police officers and other employees; cut pay and benefits; […]
Posted inBusiness Watch
Smaller communities buck tax loss trend
Dozens of cities, villages and townships — most of them small in population — have seen tax revenues actually rise over the past three years despite an overall revenue decline inMichigan. Those increases mainly have been a result of one or two new commercial projects that have sharply boosted property values in local taxing jurisdictions. […]
Posted inBusiness Watch
What was Shadow Tax Cut in your town?
In 2007, $14.25 billion in property taxes were collected by local governments in Michigan. By 2010, that figure had fallen to $13.37 billion. Adjusted for inflation, the drop exceeded $1.6 billion in only four years. This “Shadow Tax Cut” has had significant effects on local governments and on Michiganians’ tax bills, but the effects have […]
Posted inBusiness Watch
Another hurdle for local budgets
Coverage in Bridge this week focuses on the “Shadow Tax Cut” — a $1.6 billion drop in taxes due to the huge decline in property values across the state. This tax drop has eased the bills for many taxpayers, but it, of course, has meant less money for local governments that rely heavily on property […]
Posted inBusiness Watch
$1.6 billion shaved off Michigan property tax bills
Thousands of Michigan home and business owners have been the recipients of hundreds of millions of dollars in property tax cuts in recent years — a savings that few seem to recognize. Property owners in the state as a whole have seen property taxes fall nearly $900 million between 2007 and 2010. Adjusted for inflation, […]
Posted inBusiness Watch
Despite $300 million reduction, businesses seek relief
Michigan businesses, which have already won a $1.6 billion business tax cut, are pushing hard to repeal the state’s personal property tax on machinery, computers and other equipment. But they don’t talk much about, or even recognize, the $324 million tax cut they’ve received since 2007, the result of falling property values and lower tax […]
You must be logged in to post a comment.