November 20, 2017 | By Local Community Stabilization Authority (LCSA) |
On November 20, 2017, the LCSA distributed local community stabilization share revenue pursuant to MCL 123.1357 to counties, cities, villages, community colleges, libraries, authorities, school districts, and intermediate school districts that levy a millage in July and tax increment finance authorities.
Counties, cities, villages, libraries, authorities, and tax increment finance authorities, should record the revenue in account 573 Local Community Stabilization Share.
Schools should record the revenue in revenue major class code 321, suffix 0000.
Please visit the Michigan Department of Treasury’s Personal Property Tax Reimbursements webpage at www.michigan.gov/pptreimbursements for information regarding the calculation of local community stabilization share revenue. This webpage will soon be updated with November 2017 distribution information if it has not been already.
The LCSA is only responsible for the distributions so we cannot answer questions regarding calculations. Please contact us if you have questions regarding the distribution of local community stabilization share revenue.