Michigan Laws 207.608 – Assessor; determining value of new facility
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Terms Used In Michigan Laws 207.608
- Commercial housing facilities exemption certificate: means a certificate issued pursuant to sections 3, 4, and 5. See Michigan Laws 207.601
- Commission: means the state tax commission created by Act No. See Michigan Laws 207.601
- New facility: means a new structure which will have as its primary purpose multifamily housing consisting of 5 or more units and will be constructed in a downtown development district established pursuant to Act No. See Michigan Laws 207.601
- Personal property: All property that is not real property.
The assessor of each city or township in which there is a new facility for which 1 or more commercial housing facilities exemption certificates are issued and in effect shall determine annually as of December 31 the value of each new facility separately, both for real and personal property, having the benefit of the certificates. Upon receipt of notice of the filing of an application for the issuance of a commercial housing facilities exemption certificate, the assessor of each city or township shall determine and furnish to the local legislative body and the commission the value of the property to which the application pertains and other information necessary to permit the local legislative body and the commission to make the determination required by section 7(1).