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Detroit Free Press editorial on the potential elimination of the personal property tax.

Posted: 3/1/2012 - 10:39 AM
This is a legislative priority for the MCCA.  As a taxing jurisdiction authorized to levy property tax, community college districts receive revenue from taxes levied upon personal property. In 2010, a total of $1.3 billion was raised from personal property taxes in Michigan. For community colleges, the MCCA estimates that $45,493,112 in revenue from personal property taxes would be lost.  The MCCA opposes legilation that would eliminate the personal property tax, unless lost revenue was replaced with a stable, permanent, dedicated funding source which would annually provide the community colleges with lost revenue as calculated by the House/Senate fiscal agencies (to be disbursed to individual colleges in the current percentages).  Click here for the MCCA Legislative Brief and here for the potential impact on individual colleges. 

 

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