Will Detroit adopt a split-rate property tax, and if so, in what year?
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Ṁ4225
Jan 2
0%
Yes, in 2022
0%
Yes, in 2023
3%
Yes, in 2024
97%
No such policy in place on Jan 1. 2025

Detroit is considering a split-rate property tax:

https://detroitmi.gov/sites/detroitmi.localhost/files/2022-03/Split%20Rate%20Taxation%20LPD%20Memo-%20OCFO.pdf

This is when you tax buildings and land at different rates. This would enable shifting Detroit's property tax system closer to something like a land value tax

Your job is to guess if this will happen before Jan 1. 2025, and if so, in which year. The policy just needs to be formally and legally adopted (passed by the relevant lawmaking body) for this to resolve, even if it is not scheduled to actually be implemented until e.g. the following year.

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bought Ṁ500 No such policy in pl... YES

Note that September 6th is the "Deadline for ballot wording for constitutional amendments and legislative referendums, which the legislature wishes to place on the November general election ballot, presented to the Secretary of State." And there are only six days left on the House legislative calendar, and seven in the Senate, before that deadline.

Yeah, it's still theoretically possible that the authorizing ballot measure could be rammed through this year, but for all practical purposes, this is dead for 2024.

sold Ṁ72 N/A

I am selling my investment before the value of Mana is decreased to a tenth of its current value on May 1 2024.

Current plan from Duggan says it will be phased in starting in 2025

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