Detroit Mayor Mike Duggan detailed his strategy to reduce rates for homeowners and raise them on land speculators on Wednesday to the Michigan House Tax Policy Committee.
Amidst an affordable housing crisis, the goal is to spur growth and punish speculators for letting land and vacant buildings sit empty.
Speaking before the committee, Duggan stated the city isn’t asking for anything other than approval to seek this solution.
“We’re asking for the tools to fix something ourselves because the high property tax rates are choking the city,” Duggan said. “They’re choking off small businesses, they’re choking off new housing and they’re a terrible imposition on our residents.”
Source: wdet.org
Photo Credit: pexels-nataliya-vaitkevich
Categories: Michigan, Government & Policy