KALAMAZOO, MI (WKZO AM/FM) – If you own a home in the city of Kalamazoo, summer tax bills have been mailed.
This is the bill that covers city taxes, among other things.
It may not seem smaller than it used to be, but it is, thanks to the Foundation for Excellence. The half-billion-dollar trust fund was set up in part to help keep the city funded as an alternative to a city income tax, which is what most other large Michigan towns use to cover their bills.
FFE director Steve Brown says it reduces the tax burden from 19 to 12 mills, or about 41%.
He says the other side benefit is that it makes the city more attractive to developers, when they compare locations here to other communities in the county and in the state.
He says the amount saved is noted on each bill, as well as an opportunity to waive the savings and put it back in the foundation.
The reduction makes housing more affordable in the city, which is one of its top goals.
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