In December, Michigan Gov. Rick Snyder signed a law phasing out property taxes on industrial equipment, eventually saving businesses $600 million a year. But it will come at a cost. Local governments will be allowed to levy special taxes to recoup some of the lost revenue. And the state promises to reimburse most of what police, firefighters and other local services would lose.Lawmakers in other states are expressing greater caution heading into 2013.
State Tax-cut Plans Tempered By Caution In 2013
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