Tax Relief Act
What is tax Relief act?
Act 50 of 1998, which provided school districts the option of shifting to a higher Earned Income Tax in exchange for eliminating several nuisance taxes and lowering real property taxes; and Act 24 of 2001, which allowed school districts to increase their Earned Income Tax enough to eliminate the occupation tax. This bulletin was developed to help you understand the provisions of the Homeowner Tax Relief Act, the potential strike of the Act on your school district and local taxpayers, and how it can be implemented in your own community.
The Homeowner Tax Relief Act is proposed to reduce homeowners’ and farmers’ land tax bill, through a sequence of new money from state recreation amounts and higher local income taxes. Act 72 is a tax and revenue shift rather than an overall tax and revenue cut for school districts, at least in the short run, so districts should have the same amount of revenue for operation. The Act also gives school districts a new option of levying the Personal Income Tax rather than the Earned Income Tax.
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