Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Council debates land-value tax and local-option sales/entertainment levies as revenue options
Summary
Council members pressed OCFO on a proposed land-value tax, local-option sales tax and entertainment excise taxes as ways to diversify Detroit's revenue. Council added a land-value tax study to the closing executive session and asked OCFO for a local-option sales tax analysis.
Council members used the OCFO budget hearing to challenge the administration to identify new revenue streams beyond income, property, utility-user and casino wagering taxes.
Council member Colmi Young asked OCFO for a detailed revenue estimate for a land-value tax (split-rate tax). OCFO officials said earlier LVT proposals were modeled to be initially revenue-neutral, shifting taxation from improvements to land to incentivize investment, but that an estimate of resulting additional income-tax growth would have been…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
