Michigan Laws 211.1025a – Exemption
Current as of: 2023 | Check for updates
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Terms Used In Michigan Laws 211.1025a
- Authority: means a land bank fast track authority created under the land bank fast track act. See Michigan Laws 211.1022
- Eligible tax reverted property: means property that is exempt under section 7gg of the general property tax act, 1893 PA 206, MCL 211. See Michigan Laws 211.1022
- Eligible tax reverted property specific tax: means the specific tax levied under this act. See Michigan Laws 211.1022
(1) The authority may exempt eligible tax reverted property from the eligible tax reverted property specific tax if the exemption will assist in the creation of jobs, investment, or other economic development benefits in the city, village, or township in which the eligible tax reverted property is located.
(2) Eligible tax reverted property exempt from the eligible tax reverted property specific tax under subsection (1) is subject to the collection of taxes under the general property tax act, 1893 PA 206, MCL 211.1 to 211.155.