Quote Originally Posted by SWMAP View Post
I have posted this here before:

Two years ago I was in a meeting with a very well-connected Lansing lobbiest. He was talking about State and city budgets. He said the following:
In 2010, the belt-tightening would be negligible because the State had millions in stimulus funds to distribute. But 2011 and beyond - "armageddon in Michigan." Now its the armageddon for the state and its cities. In Detroit, few streetlights and no money to fix system, people mover at risk, buses not being fixed, SMART Transportation cutting back 20%.
Between Proposal A and Headlee, we are looking at severely limited funding for local governments in the future.

Once we hit bottom, property tax revenues can only grow at the rate of inflation or 5%, whichever is less.

Every entity that bases its revenues on property tax are well aware of the 'new reality'. Last year a grand total of 1 local government saw property values rise in the region.