Michigan : State Data and Comparisons : Data-Z

TIA Data

2021 Financial State of Michigan (Released 10/25/2022)

Use Create Your Own State Chart to see additional financial, demographic and economic data for this and other states

Michigan owes more than it owns.

Michigan's Taxpayer Burden™ is -$8,800, and it received a "D" from TIA.

Michigan is a Sinkhole State without enough assets to cover its debt.

Elected officials have created a Taxpayer Burden™, which is each taxpayer's share of state bills after its available assets have been tapped.

TIA's Taxpayer Burden™ measurement incorporates both assets and liabilities, not just pension debt.

Michigan only has $41.8 billion of assets available to pay bills totaling $70.5 billion.

Because Michigan doesn't have enough money to pay its bills, it has a $28.7 billion financial hole. To fill it, each Michigan taxpayer would have to send $8,800 to the state.

Michigan's reported net position is overstated by $137.2 million, largely because the state delays recognizing losses incurred when the net pension liability increases.

The state's financial report was released 169 days after its fiscal year end, which is considered timely according to the 180 day standard.

Prior Years' TIA Data

2020 Financial State of Michigan

2019 Financial State of Michigan

2018 Financial State of Michigan

2017 Financial State of Michigan

2016 Financial State of Michigan

2015 Financial State of Michigan

2014 Financial State of Michigan

2013 Financial State of Michigan

2012 Financial State of Michigan

2011 Financial State of Michigan