Wyandotte city officials are hoping lower taxes will mean higher sales for new homes in the downriver community.
On Monday, the City Council will decide whether to set up four Neighborhood Enterprise Zones that would cut taxes by 65 percent. The city has been successful in helping spur a number of new housing developments that are constructing new homes on former vacant or brownfield parcels, however, of the 29 new homes built, only one has sold so far. The NEZs would save new home buyers thousands of dollars in taxes.
The four zones would encompass five new developments, including Labadie Park, Vinewood Village, City Garden, The Oaks and The Orchards. The NEZs would lower taxes on the new buildings to 16.86 mills from the normal city millage of 47.8 mills for nine years. The 10th, 11th and 12th years would have a 15, 10 and 5 percent reduction respectively. However, the option of expanding the NEZs to the maximum 15 years, a position favored by developers, is still possible.
However, the way the state law is written the homes already built can't be included in the new NEZs because they were already finished when the zones were approved. Wyandotte's local representatives in the state legislature are working to have that problem corrected and hope to resolve the issue by the end of the year.
For information, call the city of Wyandotte at (734) 324-4500.
Source: Joseph Voszatka, Community Development Director for Wyandotte
Writer: Jon Zemke
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