Name:
Location: Westland, Michigan, United States

Graduate of Walsh Institute Of Accountancy (Now Walsh College) Michigan in 1959. Retired in 1987, but still active in the profession **World War II Veteran (Pacific) **PHONE 734-261-1979 **E-MAIL -cpabakem01@yahoo.com **(Domain Name CPASENSE Registered) **Mentioned in the Journal of Accountancy, SmartPros, Tax Prof Blog, CPA2BIZ, CPA Journal, AccountingWEB, CPATrendlines & More **Search Accounting Blogs: http://www.blognetnews.com/accounting (Includes cpasense)**TOPICS - FINANCE - FEDERAL & MICHIGAN TAXES ** Making Sense Of Your Finance & Taxes

Monday, February 02, 2009

Michigan Property Tax And Inflation Information

Proposal A, which was approved on a statewide ballot in 1994, set certain property tax changes into the Michigan Constitution. Proposal A limited the yearly property tax increase to be equal to the lesser of the general price level (Inflation Rate Multiplier) or 5%.

How: The equation for the Inflation Rate Multiplier is mandated in MCL 211.34d. Each year Treasury's Tax Analysis Division is required calculate the rate, using the Bureau of Labor Statistics data. The Inflation Rate Multiplier is equal to the ratio of:............................

Michigan Treasury

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