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An Evaluation of the Recent Move to Centralize the Finance of Public Schools in Michigan
Author(s) -
Wassmer Robert W.,
Fisher Ronald C.
Publication year - 1996
Publication title -
public budgeting and finance
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.694
H-Index - 30
eISSN - 1540-5850
pISSN - 0275-1100
DOI - 10.1111/1540-5850.01079
Subject(s) - public finance , revenue , revenue sharing , finance , public administration , campaign finance , property tax , tax revenue , economics , public economics , political science , business , macroeconomics , law , politics
This article examines Michigan's 1994–95 shift from its system of K–12 public education being funded largely by local property taxes, to it being funded predominately by statewide revenue sources. We briefly describe events that led up to the adoption of Michigan's school finance reform and then go into some detail about the tax and revenue‐sharing specifics. Since the structure of Michigan's school finance reform is complex, somewhat unique, and likely to be considered as a model for other states to duplicate, this examination will assist policy analysts and policymakers throughout the United States. Other states considering similar reforms will benefit from the simulations we provide with regard to the likely long‐run results of Michigan's school finance reform.