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Friday April 14, 2006 Today's Ann Arbor News has an article about proposed state legislation that allow every Michigan local government to offer incentives and tax abatements for such things as "improvements to obselete property or brownfields and designate homeowners or developers in older neighborhoods to receive tax abatements for renovating their properties."
Here is the article.
Should we find out, more encourage it. . .it seems to fit the model of the Northeast Area Plan.
More communities could offer tax incentives under GOP bills 4/13/2006, 5:55 p.m. ET The Associated Press
LANSING, Mich. (AP) — Every local government in Michigan would qualify to offer tax incentives for redeveloping contaminated and rundown industrial sites under legislation proposed Thursday by House Republicans.
Under state law, about 100 older urban communities currently are allowed to offer property tax breaks and other tax credits to spur development in blighted areas.
The proposed bills, which will be considered by the GOP-controlled House in the coming weeks, would let every community use the incentives. There are more than 1,700 local governments statewide.
"This proposal puts the entire state of Michigan into a jobs-growth zone, allowing communities to put out the welcome mat to compete for new industries and job providers," Rep. David Farhat, R-Fruitport, said in a statement.
A spokesman for the Michigan Economic Development Corp., the agency charged with creating jobs in Michigan, said it would review the legislation and had not taken a position on whether the CORE communities program should be expanded.
The legislation would let more communities exempt personal property taxes on new equipment for businesses located in certain areas. The communities also could cap property taxes on improvements to obsolete property or brownfields and designate homeowners or developers in older neighborhoods to receive tax abatements for renovating their properties.
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Michigan Legislature: http://www.legislature.mi.gov
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© 2006 Michigan Live. All Rights Reserved.
I wonder....
... who gets to decide whether a particular property would qualify for a tax abatement? And could this apply to individual property owners as well as "developers"? I'll see if I can dig up the actual legislation.
Jkupp 21:29, 14 April 2006 (EDT)
