Michigan tax proposal helps businesses, hurts city budgets - News, Weather, Sports, Toledo, OH

Michigan tax proposal helps businesses, hurts city budgets

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ADRIAN, MI (Toledo News Now) -

A proposal in Michigan is helping businesses but hurting cities.

Many residents voted for Proposal One. Certain businesses benefit greatly from it, but cities like Adrian are losing out on hundreds of thousands of tax dollars.

Proposal One eliminates personal property tax liability for businesses that own equipment, machines and furnishings worth more than $40,000.  This directly impacts a city's budget. Adrian is losing $900,000 due to Proposal One.

"This is one more tax that businesses will not have to pay and address going forward," said Adrian City Administrator Shane Horn. "As a community, however, this is 10 percent of our revenue stream. Our budget is $9.6 million."

The tax money is used for general services such as police, fire, parks and libraries.  The state has told officials in Adrian as well as in other cities and towns in Michigan that they will be getting that money back.

"We're concerned with will this be truly, 100 percent replaced," said Horn. "We're taking the state at their word that that'll truly happen, and we're anticipating that it would happen."

Proposal One was approved by 69 percent of voters. Adrian officials say it will officially go into effect in January of 2015.  

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