Michigan Fiscal Statistics

StatisNostics/State Financials/Michigan

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20122023

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State Revenue Analysis (Michigan: 2012–2023)

Population: 9,884,781 → 10,050,811 (1.7% change)

Overall Revenue Trends

Total Revenue▲ 64.3%

$55,670,861,000 (2012)→$91,460,198,000 (2023)

Per Capita Revenue▲ 61.6%

$5,632 (2012)→$9,100 (2023)

Fund Balances▼ 100%

$28,521,199,000 (2012)→$0 (2023)

Revenue Volatility✓ Low

Avg. fluctuation: 5.3%

Major Tax Revenue

Property Tax▲ 42.1%

$1,911,188,000 (2012)→$2,716,683,000 (2023)

Sales Tax▲ 44.4%

$8,933,937,000 (2012)→$12,897,208,000 (2023)

Utility Revenue

Growth Analysis

Fastest Growing Revenue Sources

Workers Compensation - Interest Earnings▲ 7216.7%

$18,000→$1,317,000

Unemployment - Interest Revenue▲ 838.5%

$3,428,000→$32,171,000

Regular Highway Charges▲ 395.5%

$44,000→$218,000

Declining/Slowest Growing Sources

Federal Intergovernmental Sewerage▼ 99.1%

$13,328,000→$114,000

Death & Gift Tax▼ 97.5%

$241,000→$6,000

Rents▼ 85.2%

$1,145,000→$169,000

Revenue Forecast

Projected Revenue (Next Year)▲ 5.9%

Estimated: $96,889,109,187

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%

2023 Revenue Breakdown

Federal Intergovernmental Public Welfare20.9%

Total General Sales Taxes14.1%

Individual Income Tax12.6%

Hospital Charges7.9%

Federal Intergovernmental Health & Hospitals6.4%

Higher Education Tuition Charges4.6%

Federal Intergovernmental Education4.5%

Property Tax3.0%

Corporation Net Income Tax2.2%

Other Selective Sales Taxes2.2%

Interest Earnings2.1%

Liquor Stores Revenue1.7%

Motor Vehicle License1.7%

Motor Fuels Sales Tax1.6%

Net Lottery Revenue1.5%

Higher Education Auxiliary Charges1.4%

Unemployment - Contribution1.4%

Federal Intergovernmental Highways1.3%

Federal Intergovernmental Housing & Community Development1.2%

Federal Intergovernmental Other1.2%

Donations From Private Sources1.1%

Miscellaneous General Revenue Not Elsewhere Classified1.0%

Tobacco Sales Tax0.8%

Insurance Premium Tax0.5%

Documentary & Stock Transfer Tax0.4%

Amusement Tax0.3%

Occupation & Business License Not Elsewhere Classified0.3%

Federal Intergovernmental Employment Security Administration0.3%

Other License Tax0.3%

Alcoholic Beverage Sales Tax0.2%

All Other Not Elsewhere Classified Charges0.2%

Federal Intergovernmental Air Transportation0.1%

Fines & Forfeits0.1%

Local Intergovernmental Public Welfare0.1%

Federal Intergovernmental Other Natural Resources0.1%

Motor Vehicle Operators License0.1%

Hunting & Fishing License0.1%

Natural Resources Not Elsewhere Classified Charges0.1%

Public Utilities Tax0.0%

Housing & Community Development Charges0.0%

Severance Tax0.0%

Corporation License Tax0.0%

Public Utility License Tax0.0%

Local Intergovernmental Other0.0%

Unemployment - Interest Revenue0.0%

Toll Highway Charges0.0%

Local Intergovernmental Education0.0%

Royalties0.0%

Local Intergovernmental Health & Hospitals0.0%

Alcoholic Beverage License Tax0.0%

Local Intergovernmental Highways0.0%

Education Other State Charges Not Elsewhere Classified0.0%

Parks & Recreation Charges0.0%

Workers Compensation - Other Contributions0.0%

Sale of Property0.0%

Workers Compensation - Interest Earnings0.0%

Miscellaneous Commercial Activity Not Elsewhere Classified Charges0.0%

Air Transportation Charges0.0%

Transit Utilities Revenue0.0%

Regular Highway Charges0.0%

Rents0.0%

Federal Intergovernmental Sewerage0.0%

Taxes Not Elsewhere Classified0.0%

Death & Gift Tax0.0%

Key Insights

1Total revenue increased by 64.3% from 2012 to 2023, representing a significant change in the state's financial position.
2Population changed by 1.7%, while per-capita revenue changed by 61.6%.
3The state's fund balances decreased by 100%, suggesting financial challenges or major capital expenditures.

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State Expense Analysis (Michigan: 2012 - 2023)

Total Expenditure Trends

Operating Expenditures▲ 180%

$18,876,175,000→$52,905,143,000

Per Capita Spending▲ 176%

$1,910→$5,264

Population Trends

Population Change▲ 1.7%

9,884,781 (2012)→10,050,811 (2023)

⚠️ Spending growth significantly outpacing population growth

Public Safety Expenses

Police Protection▲ 151%

$264,443,000 (2012)→$665,055,000 (2023)

Fire Protection▼ 0%

$0 (2012)→$0 (2023)

Infrastructure Expenses

Highways Maintenance▲ 142%

$441,679,000 (2012)→$1,069,006,000 (2023)

Sewerage Operations▼ 0%

$0 (2012)→$0 (2023)

Administrative Expenses

Financial Administration▲ 262%

$390,902,000 (2012)→$1,413,427,000 (2023)

General Expenses▲ 92%

$527,187,000 (2012)→$1,010,532,000 (2023)

Michigan Key Insights

1Police protection spending increased by 151%, significantly outpacing population growth of 1.7%
2Per capita expenditures grew by 176%, indicating substantial service expansion or cost increases not explained by population growth alone
3Financial Administration was the fastest growing major expense category at 262% increase

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State Debt Analysis (2012-2023)

Debt Trends

Total Long-Term Debt▲ 53%

$17,173,215,000 (2012)→$26,331,146,000 (2023)

Industrial Revenue Debt▼ 100%

$13,268,505,000 (2012)→$0 (2023)

Per Capita Debt▲ 51%

$1,737 (2012)→$2,620 (2023)

Population Trends

Population Change▲ 1.7%

9,884,781 (2012)→10,050,811 (2023)

⚠️ Per capita debt increased significantly with stable population

Debt Management

Most Recent Year (2023)

Issued:$3,632,828,000

Retired:$3,056,196,000

Net Change:+$576,632,000

Debt Retirement Trend

$2,925,750,000 → $3,056,196,000▲ 4%

Key Insights

1The sharp increase in unspecified long-term debt suggests major capital projects or financial restructuring.
2The state's debt burden per resident grew substantially while population remained relatively flat.
3New debt issuance significantly increased the per-resident debt burden (up 51%).