Problem
As in most states, the current system for how land is taxed in Michigan does not encourage investment in unused properties. This lack of investment, especially in struggling urban and rural areas, hurts the economy by hindering opportunities for growth and property development.
Solution
Representative Townsend supports legislation to allow cities to implement land value taxation, which would place the property tax burden on the actual land and not the buildings or improvements. This incentivizes a property owner to develop property in order to balance the tax burden and encourages private investment through rewards for those who invest in their property. This method is a market-driven way to encourage investment in struggling communities and to reuse existing assets rather than promote urban sprawl.
https://newdealleaders.org/wp-content/uploads/2024/04/Abortion-.png
1062
1556
Andrea Cruz
http://newdealleaders.org/wp-content/uploads/2019/11/logo-tnd.png
Andrea Cruz2024-04-24 11:46:352024-04-24 18:45:08State Official: 1864 abortion ban gives Arizona ‘black eye’
https://newdealleaders.org/wp-content/uploads/2024/01/Untitled-design-52.png
846
1280
Andrea Cruz
http://newdealleaders.org/wp-content/uploads/2019/11/logo-tnd.png
Andrea Cruz2024-04-16 17:13:502024-04-16 17:18:09State and local leaders from across the nation shine spotlight on Phoenix’s vitality
https://newdealleaders.org/wp-content/uploads/2023/11/aaron-burden-t2b1Z-jPT-w-unsplash-scaled.jpg
1920
2560
Estevan Ginsburg
http://newdealleaders.org/wp-content/uploads/2019/11/logo-tnd.png
Estevan Ginsburg2024-04-15 17:12:382024-04-15 20:41:05New Poll: Freedom and Democracy Key to Vote Choice in 2024
https://newdealleaders.org/wp-content/uploads/2022/07/AbortionSign.jpeg
500
500
Andrea Cruz
http://newdealleaders.org/wp-content/uploads/2019/11/logo-tnd.png
Andrea Cruz2024-04-09 19:45:532024-04-09 19:45:53NewDEAL Statement on Arizona Supreme Court Decision: One More Step in Stripping Away Rights of Millions of Women
