ppt

Steve Carmody / Michigan Radio

Michigan voters will have a chance to drive the final nail into the coffin of the state’s  Personal Property tax this summer. The Board of State Canvassers today designated the PPT question as Proposal 1 on the August 5 ballot. It will be the only statewide question on the ballot.  

Businesses pay the tax based on the value of their equipment and other assets. Many Michigan communities rely on the tax revenues to pay for basic city services.

Steve Carmody / Michigan Radio

LANSING, Mich. (AP) - Michigan Governor Rick Snyder has signed legislation designed to ensure local government budgets aren't hurt if manufacturers and small businesses get planned tax cuts.

A phase-out of taxes on industrial machinery starts in 2016 and is underway for small businesses with equipment. The tax cuts will be halted if a statewide vote fails in August.