March 2, 2014

New plan moves personal property tax to forefront

From Crain's Detroit Business -
"It looks like local communities will be made whole on personal property tax after all.

After a year of negotiations between lawmakers and business and local government groups, Lt. Gov. Brian Calley announced last week that use tax revenue will be used to fully reimburse local governments if the local personal property tax paid by some businesses is repealed on the August ballot. Calley has been the point person for the governor on the issue.

The plan, as originally proposed, would have guaranteed only 80 percent reimbursement, but it would have allowed communities to seek a special assessment to make up the difference."

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