Taxable Value as a Percent of State Equalized Value

(2000 Property Values)

MICHIGAN ECONOMIC GROWTH AUTHORITY (MEGA)

MEGA grants are a combination of Single Business Tax and Income Tax credits, and are determined by the following factors:

1. The number of qualified new jobs to be created or retained jobs to be maintained.

2. The average wage level of the qualified new jobs or retained jobs relative to the average wage paid by private entities in the county in which the facility is located.

3. The total capital investment or new capital investment the eligible business will make.

4. The cost differential to the business between expanding, locating, or retaining new jobs in Michigan and a site outside of Michigan.

5. The potential impact of the expansion, retention, or location on the economy of Michigan.

6. The cost of the credit, the staff, financial, or economic assistance provided by the local government unit, or local economic development corporation or similar entity, and the value of assistance otherwise provided by this state.

Varying terms of 8 to 20 years of tax credit availability, as determined by the Michigan Economic Growth Authority Board. Each MEGA grantee is audited annually to determine if jobs promises are being met. Failure to meet the jobs promises does not extinguish the multi-year grant, only the MEGA SBT credit for the year(s) the jobs promises are not met.

The MEGA Act expires December 31, 2003.

The following concerns received MEGA grants from program inception through May 2000 (several interests have received more than one grant):

• Worthington Industries - Frenchtown Twp., Monroe - Steel processor

• CMI - Summerfield Twp., Monroe - Suspension and chassis subassembly manufacturing

• P & A Industries - Monroe Twp., Monroe - Metal stamping and assembly manufacturer

• Heidtman Steel (Centaur Inc.) - Bedford Twp., Monroe - Steel processing

• La-Z-Boy - Monroe, Monroe - Administrative and information technology facility

*Enabling act:  1995 PA 24; 2000 PA 144, 2000 PA 428; M.C.L. 207.801 et seq.; M.S.A. 3.540 (801) et seq.

-Citizens Research Council of Michigan

Standard & Poor's School Evaluation Services

CLASSIFICATION OF MICHIGAN TAXES
The Michigan system of state and local taxes contains 45 elements, including 30 identifiable taxes imposed by the state for its own use and 15 taxes imposed by or for local governments. In this report, state and local taxes are classified according to the basis of taxation: Income Taxes -- directly on or measured by the income of individuals; Business Privilege Taxes -- on the privilege of doing business in Michigan; Sales-Related Taxes -- on general retail sales and on transactions involving specific goods; Property Taxes -- on property or in lieu of property taxes; Transportation Taxes -- on the direct users of transportation facilities.
Introduction
Tax Descriptions	State Taxes - black header	Local Taxes - blue header
Income	Personal Income Tax
		Uniform City Income Tax
Business	Single Business Tax
Privilege	Unemployment Insurance Tax
	Oil & Gas Severance Tax
	Foreign Insurance Company Retaliatory Tax
	Horse Race Wagering Tax
	Corporate Organization Tax
	State Casino Gaming Tax
	Airport Parking Excise Tax
	Commercial Mobile Radio Service Tax
	Accommodations (Hotel-Motel) Taxes
Sales-Related	Sales Tax
	Use Tax
	Tobacco Products Tax
	Beer Tax
	Wine Tax
	Liquor Taxes
	Liquor Markup
		Stadium & Convention Facility Taxes
		Uniform City Utility Users Tax
Property	Utility Property Tax
	Estate Tax
	State Real Estate Transfer Tax
	State Education Tax
		General Property Tax
		Ad Valorem Special Assessments
		Commercial Forest Tax
		Private Forest Tax
		Industrial Facilities Tax
		Technology Park Facilities Tax
		Enterprise Zone Facilities Tax
		Neighborhood Enterprise Zone    Facilities Tax
		Mobile Home Trailer Coach Tax
		Low Grade Iron Ore Specific Tax
		County Real Estate Transfer Tax
Transportation	Gasoline Tax
	Diesel Fuel Tax
	Motor Carrier Fuel Tax
	Motor Carrier Privilege Tax
	Liquefied Petroleum Gas Tax
	Aviation Gasoline Tax
	Aircraft Weight Tax
	Snowmobile Registration Tax
	Watercraft Registration Tax
	Motor Vehicle Registration Tax
Glossary
Tax Law Changes
Revenue Table
Source:  http://www.crcmich.org/TaxOutline/index.html

Where do Road Commissions get their funding?

Easement Conveyances and Real Estate Transfer Tax

Property Owner Forms

•  Homestead Affidavit •  Property Tax - Abatement / Exemption •  Property Tax - Assessor •  Property Tax - Board of Review •  Property Tax - Classification Appeals •  Property Tax - Computerized Tax Roll Re-Certification •  Property Tax - Equalization •  Property Tax - Millage Rollbacks •  Property Tax - Omitted Property (MCL 211.154) •  Property Tax - Other •  Property Tax - Property Transfer •  Property Tax - Real and Personal Property Statements •  Property Tax - Taxable Value •  State Real Estate Transfer Forms