Plain English Breakdown
The official source material does not provide specific details about what local governments are and aren't allowed to do with respect to setting their own limits on property tax millage.
Stop Local Property Tax Caps
This law stops local governments from setting limits on how much property tax they can collect.
What This Bill Does
- It adds a new rule to the existing property tax laws in Michigan.
Who It Names or Affects
- Local government units in Michigan
Terms To Know
- millage
- A unit of measurement for property tax rates, where one mill equals $1 per $1,000 of a property's value.
Limits and Unknowns
- The bill does not specify the consequences if local governments attempt to set their own limits.
- It is unclear how this will affect existing local tax rules that might already have caps in place.