Michigan’s PPT is a tax that businesses pay on such items as machinery, furniture and other equipment. Since some neighboring states don’t levy a similar tax, many believe the PPT puts Michigan at a disadvantage for retaining and attracting additional jobs.
The Senate proposal recommends a “phase out” of the PPT over the next 10 years. In doing so, four different exemptions are used to gradually eliminate the state tax on commercial and industrial personal property.
It’s a comprehensive plan to reduce the cost of doing business in Michigan, while helping locals retain 98 percent of their current budgets. Although I have not made a decision on how I will vote on the plan because it’s still early in the process, one thing that is for certain is I will not vote for anything that does not properly replace lost revenue to our local cities, townships and villages. Our communities must still be able to provide services to residents.
For the complete story at Dexter Patch, click here.