In a Nutshell: Michigan’s state and local governments are wary of proposed federal income tax changes that could increase their borrowing costs. Today, state and local governments can borrow for public infrastructure projects at lower interest rates because investment income from municipal bonds can be excluded from investors’ federal income tax bases. Bonds issued by […] The post Uncertainty in Borrowing Costs May Be Ahead for Michigan’s Local Governments appeared first on Citizens R...| Citizens Research Council of Michigan
In a Nutshell: Paying for Local Community Services The nearly $19 billion in property taxes collected each year funds Michigan’s essential local government services and public schools. And these taxes continue to rise. Since 2013, statewide property taxes have risen an average of four percent year over year. From 2021 to 2022, statewide property tax […]| Citizens Research Council of Michigan