Proposal on business tax to be on ballot statewide
Fri, 23 May 2014 18:48:24 GMT —
A proposal that would get rid of the personal property tax will appear on the Michigan ballot.
The Board of State Canvassers on Thursday designated the issue as Proposal 1.
The Detroit Free Press and Michigan Radio report it will be the only statewide question on the Aug. 5 ballot.
The measure would reimburse cities for their lost personal property tax revenue with other state revenue.
The personal property tax is paid by businesses and manufacturers. It's based on the value of their equipment and other assets. Many Michigan communities rely on the tax revenues to pay for basic city services.
The PPT isn't popular with businesses.
State lawmakers already have voted to repeal the tax. But the issue still needs voter approval.