Michigan Fiscal Statistics

StatisNostics/State Financials/Michigan

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20122022

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State Revenue Analysis (Michigan: 2012–2022)

Population: 9,884,781 → 9,966,555 (0.8% change)

Overall Revenue Trends

Total Revenue▲ 60.8%

$55,670,861,000 (2012)→$89,494,157,000 (2022)

Per Capita Revenue▲ 59.4%

$5,632 (2012)→$8,979 (2022)

Fund Balances▼ 100%

$28,521,199,000 (2012)→$0 (2022)

Revenue Volatility✓ Low

Avg. fluctuation: 5.6%

Major Tax Revenue

Property Tax▲ 32.7%

$1,911,188,000 (2012)→$2,535,211,000 (2022)

Sales Tax▲ 36.6%

$8,933,937,000 (2012)→$12,204,862,000 (2022)

Utility Revenue

Growth Analysis

Fastest Growing Revenue Sources

Workers Compensation - Interest Earnings▲ 944.4%

$18,000→$188,000

Federal Intergovernmental Health & Hospitals▲ 421.8%

$1,388,086,000→$7,243,589,000

Local Intergovernmental Education▲ 394.1%

$10,426,000→$51,517,000

Declining/Slowest Growing Sources

Federal Intergovernmental Sewerage▼ 97.6%

$13,328,000→$319,000

Death & Gift Tax▼ 97.5%

$241,000→$6,000

Rents▼ 95.5%

$1,145,000→$51,000

Revenue Forecast

Projected Revenue (Next Year)▲ 11.9%

Estimated: $100,120,984,456

Based on 3-year revenue trend

Revenue Composition

2012 Revenue Breakdown

Federal Intergovernmental Public Welfare17.9%

Total General Sales Taxes16.0%

Individual Income Tax12.4%

Federal Intergovernmental Education6.3%

Higher Education Tuition Charges5.8%

Hospital Charges4.7%

Unemployment - Contribution3.5%

Property Tax3.4%

Federal Intergovernmental Health & Hospitals2.5%

Other Selective Sales Taxes2.2%

Interest Earnings2.0%

Miscellaneous General Revenue Not Elsewhere Classified1.8%

Higher Education Auxiliary Charges1.8%

Tobacco Sales Tax1.7%

Motor Fuels Sales Tax1.7%

Motor Vehicle License1.6%

Federal Intergovernmental Housing & Community Development1.5%

Liquor Stores Revenue1.5%

Federal Intergovernmental Highways1.5%

Federal Intergovernmental Other1.5%

Net Lottery Revenue1.5%

Corporation Net Income Tax1.4%

Donations From Private Sources1.2%

Insurance Premium Tax0.5%

Fines & Forfeits0.4%

Federal Intergovernmental Employment Security Administration0.4%

Other License Tax0.3%

Occupation & Business License Not Elsewhere Classified0.3%

Documentary & Stock Transfer Tax0.3%

Alcoholic Beverage Sales Tax0.3%

All Other Not Elsewhere Classified Charges0.3%

Amusement Tax0.2%

Federal Intergovernmental Air Transportation0.1%

Federal Intergovernmental Other Natural Resources0.1%

Local Intergovernmental Public Welfare0.1%

Severance Tax0.1%

Motor Vehicle Operators License0.1%

Local Intergovernmental Health & Hospitals0.1%

Hunting & Fishing License0.1%

Federal Intergovernmental Transit Utilities0.1%

Local Intergovernmental Highways0.1%

Local Intergovernmental Other0.1%

Royalties0.1%

Natural Resources Not Elsewhere Classified Charges0.1%

Federal Intergovernmental Water Utilities0.1%

Toll Highway Charges0.1%

Public Utilities Tax0.1%

Public Utility License Tax0.0%

Corporation License Tax0.0%

Alcoholic Beverage License Tax0.0%

Federal Intergovernmental Sewerage0.0%

Workers Compensation - Other Contributions0.0%

Local Intergovernmental Education0.0%

Housing & Community Development Charges0.0%

Education Other State Charges Not Elsewhere Classified0.0%

Parks & Recreation Charges0.0%

Parimutuels Tax0.0%

Unemployment - Interest Revenue0.0%

Sale of Property0.0%

Rents0.0%

Local Intergovernmental Housing & Community Development0.0%

Air Transportation Charges0.0%

Death & Gift Tax0.0%

Regular Highway Charges0.0%

Workers Compensation - Interest Earnings0.0%

Local Intergovernmental Transit Utilities0.0%

2022 Revenue Breakdown

Federal Intergovernmental Public Welfare20.6%

Individual Income Tax14.4%

Total General Sales Taxes13.6%

Federal Intergovernmental Health & Hospitals8.1%

Hospital Charges6.3%

Federal Intergovernmental Education4.7%

Higher Education Tuition Charges4.6%

Property Tax2.8%

Corporation Net Income Tax2.0%

Other Selective Sales Taxes1.8%

Liquor Stores Revenue1.8%

Motor Vehicle License1.7%

Motor Fuels Sales Tax1.6%

Federal Intergovernmental Housing & Community Development1.5%

Net Lottery Revenue1.5%

Federal Intergovernmental Other1.4%

Unemployment - Contribution1.4%

Higher Education Auxiliary Charges1.3%

Donations From Private Sources1.3%

Federal Intergovernmental Highways1.2%

Miscellaneous General Revenue Not Elsewhere Classified0.9%

Tobacco Sales Tax0.9%

Interest Earnings0.7%

Documentary & Stock Transfer Tax0.6%

Insurance Premium Tax0.4%

Federal Intergovernmental Employment Security Administration0.3%

Occupation & Business License Not Elsewhere Classified0.3%

Amusement Tax0.3%

Other License Tax0.3%

Alcoholic Beverage Sales Tax0.2%

All Other Not Elsewhere Classified Charges0.2%

Fines & Forfeits0.1%

Federal Intergovernmental Air Transportation0.1%

Local Intergovernmental Public Welfare0.1%

Federal Intergovernmental Other Natural Resources0.1%

Hunting & Fishing License0.1%

Motor Vehicle Operators License0.1%

Natural Resources Not Elsewhere Classified Charges0.1%

Local Intergovernmental Education0.1%

Severance Tax0.1%

Public Utilities Tax0.0%

Royalties0.0%

Corporation License Tax0.0%

Public Utility License Tax0.0%

Housing & Community Development Charges0.0%

Local Intergovernmental Other0.0%

Toll Highway Charges0.0%

Local Intergovernmental Health & Hospitals0.0%

Local Intergovernmental Highways0.0%

Alcoholic Beverage License Tax0.0%

Unemployment - Interest Revenue0.0%

Sale of Property0.0%

Workers Compensation - Other Contributions0.0%

Parks & Recreation Charges0.0%

Education Other State Charges Not Elsewhere Classified0.0%

Parimutuels Tax0.0%

Transit Utilities Revenue0.0%

Miscellaneous Commercial Activity Not Elsewhere Classified Charges0.0%

Air Transportation Charges0.0%

Federal Intergovernmental Sewerage0.0%

Workers Compensation - Interest Earnings0.0%

Taxes Not Elsewhere Classified0.0%

Regular Highway Charges0.0%

Rents0.0%

Death & Gift Tax0.0%

Key Insights

1Total revenue increased by 60.8% from 2012 to 2022, representing a significant change in the state's financial position.
2Population changed by 0.8%, while per-capita revenue changed by 59.4%.
3The state's fund balances decreased by 100%, suggesting financial challenges or major capital expenditures.

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State Expense Analysis (Michigan: 2012 - 2022)

Total Expenditure Trends

Operating Expenditures▲ 165%

$18,876,175,000→$49,956,813,000

Per Capita Spending▲ 162%

$1,910→$5,012

Population Trends

Population Change▲ 0.8%

9,884,781 (2012)→9,966,555 (2022)

⚠️ Spending growth significantly outpacing population growth

Public Safety Expenses

Police Protection▲ 129%

$264,443,000 (2012)→$606,509,000 (2022)

Fire Protection▼ 0%

$0 (2012)→$0 (2022)

Infrastructure Expenses

Highways Maintenance▲ 160%

$441,679,000 (2012)→$1,148,629,000 (2022)

Sewerage Operations▼ 0%

$0 (2012)→$0 (2022)

Administrative Expenses

Financial Administration▲ 233%

$390,902,000 (2012)→$1,303,179,000 (2022)

General Expenses▲ 112%

$527,187,000 (2012)→$1,118,869,000 (2022)

Michigan Key Insights

1Police protection spending increased by 129%, significantly outpacing population growth of 0.8%
2Per capita expenditures grew by 162%, indicating substantial service expansion or cost increases not explained by population growth alone
3General expenses increased dramatically by 112%, which may indicate classification changes, new initiatives, or reporting adjustments
4Financial Administration was the fastest growing major expense category at 233% increase

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State Debt Analysis (2012-2022)

Debt Trends

Total Long-Term Debt▲ 50%

$17,173,215,000 (2012)→$25,753,950,000 (2022)

Industrial Revenue Debt▼ 100%

$13,268,505,000 (2012)→$0 (2022)

Per Capita Debt▲ 49%

$1,737 (2012)→$2,584 (2022)

Population Trends

Population Change▲ 0.8%

9,884,781 (2012)→9,966,555 (2022)

⚠️ Per capita debt increased significantly with stable population

Debt Management

Most Recent Year (2022)

Issued:$4,556,589,000

Retired:$3,181,907,000

Net Change:+$1,374,682,000

Debt Retirement Trend

$2,925,750,000 → $3,181,907,000▲ 9%

Key Insights

1The state's debt burden per resident grew substantially while population remained relatively flat.
2New debt issuance significantly increased the per-resident debt burden (up 49%).