Renaissance Zone Q&A
Michigan's tax-free Renaissance Zones are areas designated as virtually tax free for
any business or resident presently in, or moving into, a zone. They are designed to provide
selected communities with the most powerful market-based incentive-no taxes-to spur new jobs
and investment. The zones in Muskegon vary in size from 10 to 210 acres. Maps of individual
subzones in Muskegon can be found by following the links below.
The taxes that companies and residents do not pay comprise nearly all the state and local
taxes levied on business activity: Single Business Tax (SBT), state personal income tax,
six-mill state education tax, local personal property tax, local real property tax, local
income tax and utility users tax.
The duration of the Muskegon Renaissance Zone designation lasts until 2014. In all cases,
the tax relief will be phased out in 25% increments over the last three years of the program.
| Comparsion of 2004 Year Millage Rates to Ren. Zone Millage Rates and % Savings |
| Mill |
Non Principal Residence Millage |
Normal Principal Residence Millage |
Renaissance Zone Millage |
% Savings for Non Principal Residence |
% Savings for Principal Residence |
| County Tax |
8.9994 |
8.9994 |
0.4000 |
95.56% |
95.56% |
| MAISD Tax |
3.7580 |
3.7580 |
0.0000 |
100.00% |
100.00% |
| City Tax |
11.0768 |
11.0768 |
0.0000 |
100.00% |
100.00% |
| School Operations |
18.0000 |
0.0000 |
0.0000 |
100.00% |
0.00% |
| School Debt |
7.0000 |
7.0000 |
7.0000 |
0.00% |
0.00% |
| Hackley Library |
2.4000 |
2.4000 |
0.0000 |
100.00% |
100.00% |
| State Education |
6.0000 |
6.0000 |
0.0000 |
100.00% |
100.00% |
| Totals |
57.2342 |
39.2342 |
7.4000 |
87.07% |
81.14% |
| * 1 mill is equal to $1 per every $1,000 dollars of the property's Taxable Value (approx. 50% of the market value) |
| Estimated Annual Gross Taxable Income Savings |
| Annual Gross Taxable Income |
State of Michigan Income Tax |
City of Muskegon Income Tax |
Estimated Total Income Tax Savings |
| $25,000 |
$975 |
$250 |
$1,225 |
| $35,000 |
$1,365 |
$350 |
$1,715 |
| $50,000 |
$1,950 |
$500 |
$2,450 |
| $60,000 |
$2,340 |
$600 |
$2,940 |
| $75,000 |
$2,925 |
$750 |
$3,675 |
| $100,000 |
$3,900 |
$1,000 |
$4,900 |
| * State of Michigan Income Tax is approximately 3.9%. City of Muskegon Income Tax is 1%. |
|
Complete Subzones Map
View entire map of Muskegon to see where individual subzones are located.
|
|
Muskegon Mall Subzone
Acreage: 26
This downtown property is currently owned by the Downtown Muskegon Development Corporation
(DMDC), which is made up of representatives from the Muskegon Area Chamber of Commerce,
the Community Foundation for Muskegon County, and the Paul C. Johnson Foundation.
The DMDC is currently seeking developers to redevelop this property.
|
 |
WaterMark Subzone
Acreage: 16
A New York-based development company owns this former furniture manufacturing facility.
Redevelopment plans call for turning the building into a mixed-use development with residential,
retail, and office.
|
|
Whittaker Electric Subzone (Includes Seaway Industrial Park)
Acreage: 55
This zone includes the Seaway Industrial Park, as well as the former Whittaker Electric and Federal Mogul buildings.
Seaway Industrial Park is owned by the City of Muskegon and currently has a number of lots available for sale.
For more information please contact the Community and Economic Development department at (231) 724-6702.
|
 |
Boilerworks/Amazon Subzone
Acreage: 10
This subzone has seen the renovation of the Amazon Building, an abandoned linen factory redeveloped
into 137 loft apartments. Another mixed-use development along Western Avenue is expected to break
ground in 2003.
|
 |
Cordova Subzone
Acreage: 210
This property is currently owned by the County of Muskegon,
which is working towards creating a large lot industrial park on the site.
|
 |
For more information regarding the City of Muskegon's Renaissance Zone please contact the Community and Economic Development Department at (231) 724-6702.
|
Michigan Economic Development
Corporation |
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