Comments on: OK… So Whattya Gonna Do Bout It? http://michigantaxes.com/wordpress/2008/03/ok-so-whattya-gonna-do-bout-it/ Ongoing discussion of how Michigan burdens its taxpayers as well as other Michigan Issues, Satire, and Commentary Thu, 09 Feb 2012 01:10:17 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: jgillman http://michigantaxes.com/wordpress/2008/03/ok-so-whattya-gonna-do-bout-it/comment-page-1/#comment-46 jgillman Fri, 07 Mar 2008 13:26:55 +0000 http://michigantaxes.com/wordpress/?p=218#comment-46 As I see it, it is business property tax. Correct me if I am wrong. Part of the proposal reads as follows: "AFTER DECEMBER 31, 2009, TANGIBLE PERSONAL PROPERTY SHALL NOT BE SUBJECT TO TAXATION IN THIS STATE. AFTER DECEMBER 31, 2009, THIS STATE SHALL ANNUALLY REMIT TO EACH LOCAL TAXING UNIT THAT LEVIES A PROPERTY TAX AN AMOUNT EQUAL TO THE AMOUNT THAT THE LOCAL TAXING UNIT WOULD HAVE LEVIED IN THAT YEAR IF THAT LOCAL TAXING UNIT HAD LEVIED A PROPERTY TAX ON PERSONAL PROPERTY, IN THE MANNER PROVIDED BY LAW. AFTER DECEMBER 31, 2009, NO TAX SHALL BE LEVIED BY THIS STATE ON REAL PROPERTY THAT IS BUSINESS PROPERTY, AS DEFINED BY LAW; HOWEVER, A LOCAL TAXING UNIT MAY LEVY A TAX ON REAL PROPERTY THAT IS BUSINESS PROPERTY, AS DEFINED BY LAW." But the only ones paying personal property taxes are the business owners on business assets anyhow. "Property Taxes" on homes land etc still retains its current status. As I see it, it is business property tax. Correct me if I am wrong. Part of the proposal reads as follows:

“AFTER DECEMBER 31, 2009, TANGIBLE
PERSONAL PROPERTY SHALL NOT BE SUBJECT TO TAXATION IN THIS STATE. AFTER DECEMBER 31, 2009, THIS STATE SHALL ANNUALLY
REMIT TO EACH LOCAL TAXING UNIT THAT LEVIES A PROPERTY TAX AN AMOUNT EQUAL TO THE AMOUNT THAT THE LOCAL TAXING UNIT WOULD HAVE LEVIED IN THAT YEAR IF THAT LOCAL TAXING UNIT HAD LEVIED A PROPERTY TAX ON PERSONAL PROPERTY, IN THE MANNER PROVIDED BY LAW. AFTER DECEMBER 31, 2009, NO TAX SHALL BE LEVIED BY THIS STATE ON REAL PROPERTY THAT IS BUSINESS PROPERTY, AS DEFINED BY LAW; HOWEVER, A LOCAL TAXING UNIT MAY LEVY A TAX ON REAL PROPERTY THAT IS BUSINESS PROPERTY, AS DEFINED BY LAW.”

But the only ones paying personal property taxes are the business owners on business assets anyhow.

“Property Taxes” on homes land etc still retains its current status.

]]> By: Dave http://michigantaxes.com/wordpress/2008/03/ok-so-whattya-gonna-do-bout-it/comment-page-1/#comment-45 Dave Fri, 07 Mar 2008 03:25:22 +0000 http://michigantaxes.com/wordpress/?p=218#comment-45 Hello, I was wondering if this covers personal property tax or just business property tax? Dave Hello,

I was wondering if this covers personal property tax or just business property tax?

Dave

]]> By: jgillman http://michigantaxes.com/wordpress/2008/03/ok-so-whattya-gonna-do-bout-it/comment-page-1/#comment-44 jgillman Wed, 05 Mar 2008 15:08:52 +0000 http://michigantaxes.com/wordpress/?p=218#comment-44 The way I look at it, if we eliminate 3 taxes, simplify the paying process, and reduce government in one fell swoop.. The way I look at it, if we eliminate 3 taxes, simplify the paying process, and reduce government in one fell swoop..

]]> By: Nick http://michigantaxes.com/wordpress/2008/03/ok-so-whattya-gonna-do-bout-it/comment-page-1/#comment-43 Nick Wed, 05 Mar 2008 14:56:16 +0000 http://michigantaxes.com/wordpress/?p=218#comment-43 Interesting concept and debate to have at the very least. Good luck with the drive. --Nick www.RightMichigan.com Interesting concept and debate to have at the very least. Good luck with the drive.

–Nick
http://www.RightMichigan.com

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