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Taxes
8:13 pm
Fri February 4, 2011

Workshops for property tax assessment appeals

Homeowners are starting to get their property tax assessments in the mail. A few organizations are hosting workshops for people who think their home’s value might be over-assessed.

Rose Bogaert is chair of the Wayne County Taxpayers Association:

"Going to the Board of Review and saying 'my taxes are too high' will get you nothing. You have to have information that justifies your contention that your house is over-assessed."

Bogaert says her organization’s workshops educate homeowners about things like how to analyze sales in their neighborhoods. Information about the Headlee Amendment and Proposal A – which govern property tax assessments in Michigan – is also part of the workshops.

Oakland County officials are also hosting a series of sessions about tax assessments through early March.

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Auto/Economy
2:47 pm
Fri February 4, 2011

Casino development in nearby Ohio

Credit User Zoomar / Flickr

After years of watching its residents travel to Michigan, Indiana, or Pittsburgh for gaming, Ohio is getting in on the action. Cleveland kicked off its first casino development yesterday.

Developers say they’ll spend $350 million to convert a former department store in the center of the city into a place for slot machines and poker.

Behind all this is Dan Gilbert, the Cavaliers owner and founder of Michigan’s Quicken Loans. He sees this casino as the first phase of gaming in Cleveland. He’ll be building a casino from scratch a few blocks away.

Cleveland Mayor Frank Jackson says the project should create hundreds of local jobs.

They’re actually talking about how can we hire people? How can we hire local contractors, local vendors and make this investment a stimulus for this economy and the people of this city and region.

Dan Gilbert says the Cleveland casino will be integrated into the city, helping local businesses. 

Auto/Economy
1:57 pm
Fri February 4, 2011

Jobless rate falling in Flint

Credit Steve Carmody / Michigan Radio
Kettering University junior Steve Needham at the Innovation Center.

From General Motors adding another shift at the Flint Assembly plant to expansion in the city's medical and echnology centers, Flint's job picture is brightening.

Flint city leaders say their community posted one of the ten biggest drops in unemployment in the U.S. over the last 12 months.

Between December 2009 and December 2010, Flint's jobless rate fell from 16 percent to just under 12 percent.

Flint Mayor Dayne Walling says the city helped create or keep mare than a thousand jobs by encouraging entrepreneurial businesses.

For everybody who's left, there's a project out there that kept a job here too. That?s the other part of the story. It may not be a new job. It's not someone who's newly employed. But there are another 500 or 1000 people who would have left here if these projects wouldn't have been successful.

This all builds on what our president said in his State of the Union, that we need to create jobs and industries of the future by doing what America does best.  Investing in the creativity and innovation of our people.

Walling concedes people leaving Flint also helped improve the city's unemployment rate.

Flint's unemployment rate is still above state and national levels.

Economy
12:03 pm
Fri February 4, 2011

Unemployment rate drops to 9 percent

The unemployment rate fell .4 percentage points in January to 9.0%.

Keith Hall, the Commissioner of the Bureau of Labor Statistics said today:

In January, employment increased in manufacturing and retail trade, while job losses occurred in transportation and warehousing and in construction.  Employment in most other major industries changed little. Manufacturing employment grew by 49,000 over the month and has increased by 161,000 since a recent low point in December 2009.

The Associated Press reports:

The unemployment rate has fallen by eight-tenths of a percentage point in the past two months. That's the steepest two-month drop in nearly 53 years. But part of that drop has occurred as many of those out of work gave up on their job searches. When unemployed people stop looking for jobs, the government no longer counts them as unemployed.

Officially, there are about 13.9 million people in the country out of work. The AP says "that's still about double the total who were out of work before the recession began in December 2007."

The unemployment rate in Michigan stands at 11.7% as of December. New numbers should be out in the coming week.

Economy
8:03 am
Fri February 4, 2011

Banking on snowfall at the Chicago Board of Trade

Parts of the Midwest are still shoveling out after one of the worst blizzards in recent memory.  For some people, they can't see the good in all that snowfall.

But at the Chicago Board of Trade, this blizzard may be a boon for business.

Investors are banking on a futures market based on snowfall that’s the first of its kind in the world.

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