August 28, 2014
9:17 am
Listener Club

SEMCOG RELEASES LATEST PROPERTY TAX EXPECTATIONS


The Southeast Michigan Council of Governments has released a report called Fiscal Capacity Outlook for 2014-through-2016, with data showing an overall positive trend, as losses in Southeast Michigan's taxable value and state equalized value are coming to an end.  SEMCOG's Brian Parthum says the seven counties in the SEMCOG region are on the mend, following the Recession of 2008. Parthum says a real property taxable value declined slightly by 0.7 percent, making the decline the smallest since 2009.  Meanwhile, taxable value for residential property gained 0.5 percent, while taxable value for nonresidential property fell 4.1 percent.  He says recovery will be contingent on the continued economic recovery in the state, including the growth of the Detroit automotive companies and their ability to maintain market share.
 
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Topics : Business_Finance
People : Brian Parthum
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