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TALK 1230 WTKG

TALK 1230 WTKG
 
 

With Election Day Coming, What Do You Know About Proposal One

 
Posted Thursday, July 24th 2014 @ 6pm  by WOOD Radio news team

It appears that there's some confusion among voters when it comes to Proposal 1, which is on Michigan's statewide ballot August 5th.

The proposal is to continue the phase-out of Michigan's personal property tax on business. Its a tax that business wants to get rid of because its out of date and it hurts the state's economy.  

But it also produces needed revenue for many local communities.

A new Denno-Research poll shows barely over 30 percent supporting the proposal, even though if approved, it promises to make sure local communities are made good on the lost revenue by taking advantage of expiring tax credits, and a new "Essential Services Assessment" on business.

In the meantime, two large corporations, Ford Motor Company and Dow Chemical, are leading a group that is contributing millions of dollars to a campaign pushing for a yes vote on Prop 1.

If voters reject Prop 1, everything goes back to square one, with the tax being reinstated, and local communities getting revenue from the tax.

 

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