Tax Break Tracker Individual Entry

Each individual entry is a single program reported by a single jurisdiction in a given fiscal year. Because we want to track the level and quality of disclosure as well as the content, the values below -- with the exception of program names -- are entered exactly as they are reported. See our user guide for more explanations.

State: 
Michigan
Reporting Jurisdiction: 
Michigan
Jurisdiction type
State
Fiscal year ending In: 
2020
Program name: 
Renaissance Zone Property Tax Exemption Program
Program purpose
Urban redevelopment
Statutory authority
Michigan Compiled Laws (MCL) Sections 125.2681 - 125.2696 and 211.7ff
Abating jurisdiction(s)
State of Michigan
Applicable taxes: 
State Education Tax
Method of abatement
Tax exemption
Provisions for recapture
Recapture conditions vary and only occur when expressly provided in the agreement signed by the taxpayer and MSF board.
Gross revenue loss
$3,900,000
Reimbursement / offset
$0
Net revenue loss
$3,900,000
Type of loss
Active
Additional notes on dislosure: 
(none)