Michigan Laws 207.956 – Issuance of residential housing exemption certificate; form; contents; effective date; maintenance of record and copies
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Terms Used In Michigan Laws 207.956
- certificate: means the certificate issued under section 6. See Michigan Laws 207.952
- Commission: means the state tax commission created by 1927 PA 360, MCL 209. See Michigan Laws 207.952
- Qualified local governmental unit: means a city, village, or township. See Michigan Laws 207.952
- Qualified residential facility: means a new residential facility or a rehabilitated residential facility, located in a residential housing district. See Michigan Laws 207.952
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Taxable value: means the value determined under section 27a of the general property tax act, 1893 PA 206, MCL 211. See Michigan Laws 207.952
(1) Not more than 120 days after receipt of a copy of the application and resolution adopted under section 5, the commission shall approve or disapprove the resolution.
(2) Following approval of the application by the legislative body of the qualified local governmental unit and the commission, the commission shall issue to the applicant a certificate in the form the commission determines, which must contain all of the following:
(a) The address of the real property on which the qualified residential facility is located.
(b) A statement that unless revoked as provided in this act the certificate shall remain in force for the period stated in the certificate.
(c) A statement of the taxable value of the qualified residential facility for the tax year immediately preceding the effective date of the certificate after deducting the taxable value of the land.
(d) A statement of the period of time authorized by the legislative body of the qualified local governmental unit within which the rehabilitation or construction shall be completed.
(e) If the period of time authorized by the legislative body of the qualified local governmental unit pursuant to subdivision (b) is less than 12 years, the exemption certificate shall contain the factors, criteria, and objectives, as determined by the resolution of the qualified local governmental unit, necessary for extending the period of time, if any.
(3) Except as otherwise provided in section 7(2), the effective date of the certificate is the December 31 immediately following the date of issuance of the certificate.
(4) The commission shall file with the clerk of the qualified local governmental unit a copy of the certificate, and the commission shall maintain a record of all certificates filed. The commission shall also send, by certified mail, a copy of the certificate to the applicant and the assessor of the local tax collecting unit in which the qualified residential facility is located.