The city of Detroit has launched a new online tool for homeowners to estimate their property tax cut under the city’s proposed Land Value Tax Plan (LVTP).
According to the city, the proposed Land Value Tax Plan would modernize the state’s “outdated, one-size-fits-all” municipal tax structure by allowing municipalities like Detroit to replace certain taxes on property improvements, including homes, buildings, and other structures.
The end goal of the plan is to allow local governments to lower residents’ costs, reduce blight and tax foreclosures, encourage reinvestment, and support small businesses.
To use the online tool, homeowners just need an address or parcel number to see an estimate of what their 2023 taxes would have been under the LVTP. Once an address or parcel number is entered, the LVTP tool shows a homeowner’s assessed and taxable values, the current 2023 taxes, and the estimated LVTP savings.
The city explained that Mayor Mike Duggan initially shared the tool with residents during a community meeting. During a demonstration of the tool, many homeowners were able to see an estimate of what their 2023 property tax savings would have been under the LVTP.
