Personal Property Tax Ballot Proposal Presentation July 22 in Traverse City
The proposal to eliminate Michigan’s personal property tax (PPT) will be discussesd at an informational presentation July 22 in Traverse City. The presentation will run from 6:00 to 7:30 p.m. in the conference room on the south side of the Traverse City Michigan Works Center at 1209 S. Garfield. The event is being hosted by the Northwest Michigan Council of Governments (NWMCOG), the Traverse City Area Chamber of Commerce, and the Michigan Economic Development Corporation (MEDC).
The proposal on the August ballot will give voters an opportunity to decide if they want to eliminate the PPT for small manufacturers and small businesses and phase the tax out over several years for large manufacturing businesses. If approved, the proposal would also guarantee that 100 percent of the money a community loses from the elimination of personal property taxes will be replaced using a more stable revenue stream supported by the existing state use tax, expiring business tax credits, and a special assessment on those manufacturers receiving a personal property tax reduction.
Jim McBryde, Vice President and Senior Advisor for the MEDC will lead the discussion and answer questions. There is no charge to attend, but seating is limited and registration is required at: nwm.org/ppt.
Date: Tue, July 22 Time: 6-7:30 p.m. Location: Traverse City Michigan Works! Center, Conference Room, 1209 S. Garfield Avenue Cost: No Charge but registration required – limited to 50.