Flint Renaissance Zone
The Renaissance Zone is a state designation that allows for the creation of tax exempt zones designed to spur growth in eleven economically distressed Michigan communities. These zones are virtually tax free for any business or resident presently in or moving into a renaissance zone.
Businesses and individuals in a state-approved
renaissance zone may be eligible for the following
STATE TAXES WAIVED
- Personal Income Tax
- Single Business Tax
- State Education Tax
LOCAL TAXES WAIVED
- Local Income Tax
- Real Property Tax on operating mills
- Personal Property Tax on operating mills
A business will still pay unemployment insurance, social security taxes, worker's compensation, sewer and water fees, which are either federal taxes or fees for services. Businesses will also pay property taxes which result from local bond indebtedness or special assessments so as not to jeopardize the community's current bonds. Businesses will also pay Michigan's six percent sales tax.
The State of Michigan will reimburse school districts, community college districts and public libraries for most of the tax losses, resulting from the tax exemption in a renaissance zone.
All tax free renaissance zones began on JANUARY 1, 1997.
A business or individual locating into a renaissance zone may receive the tax exemption benefit for as long as that zone's designation lasts.
Carriage Town is in one of the Flint Renaissance Zones.
For more information, call the Flint City Hall (810-235-2489) or visit the City of Flint Website.