A proposal on the Nov. 3 ballot to cut and cap property taxes over a five-year period in Michigan would cost the state's general fund budget $402 million in 1993, the first year of the tax cut, and climb to $1.6 billion by 1997, according to a study released last week.

Prepared by the Mackinac Center, a nonprofit Michigan-based research organization, the study compares two property tax cut proposals that will appear on the ballot.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.